Oil Prices Up 1% on US Storm and Israel-Iran Fears

OIL PRICE - LONDON. Oil prices rose more than 1% on Thursday, underpinned by a spike in fuel demand as a hurricane barrelled into Florida, with Middle East supply risks also in focus.

Brent crude futures rose $1.20, or 1.6%, to $77.78 a barrel by 1330 GMT. U.S. West Texas Intermediate (WTI) futures were up $1.16, or 1.6%, at $74.40.