Oil rises 1% on reports Israel preparing strike on Iranian nuclear facilities

Mihaela Chircă

Oil prices jumped more than 1 per cent on Wednesday after reports Israel is preparing a strike on Iranian nuclear facilities, raising fears that a conflict could upset supply availability in the key Middle East producing region. Brent futures for July rose 86 cents, or 1.32 per cent, to $66.24 a barrel by 0003 GMT. U.S. West Texas Intermediate crude futures for July climbed 90 cents or 1.45 per cent to $62.93. New intelligence obtained by the United States suggests that Israel is preparing to