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image: AP Photo/Pablo Martinez Monsivais

Oil prices hit more than 3-year highs on Middle East tensions, US-Russia war of words

Oil prices hit new 2018 highs as rebels in Yemen launched new missile strikes on top crude exporter Saudi Arabia and as the market continued to worry about escalating conflict between the United States and Russia in Syria.

Brent crude prices were at $72.46 a barrel, up $1.42, or 2 percent from Tuesday’s closing price, the highest level since Dec. 2, 2014, when it hit $73.03.

U.S. West Texas Intermediate crude were up $1.49, or 2.3 percent, to $67, after touching a session high going back to Dec. 4, 2014, when it touched $68.22.

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