European Union: Oil prices hit 3-year highs

The European Union said today that oil prices hit their highest levels in three years.

Oil prices rose in early trading today, after ending the previous session with a more than 4% gain amid concerns that the Iran-Israel conflict could disrupt supplies.

Brent crude futures rose 19 cents, or 0.25%, to $76.64 a barrel by 00:29 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.31%, to $75.07 a barrel.