Undersocring global price pressures oil extended its rally after a pipeline running from Iraq to Turkey was hit by an explosion, taking out crucial supply.
Traders immediately added risk premium to the price.
The risk added a premium to prices during the session. Brent crude futures rose 1.21%to settle at $88.57 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose1.45% at $86.67 a barrel.
