Oil rises as Iran threat to widen war dims hopes of Strait of Hormuz deal

Brent crude futures rose more than 3% to above $106 a barrel before paring some gains as traders assessed higher oil flows from the region. Brent for November settlement was up 2% at $105.09 a barrel at 8:46 a.m. in New York, while West Texas Intermediate gained 1.7% to $93.71.