Oil prices jump again following renewed fighting in the Middle East

Oil prices are jumped again on Wednesday after a brief pause in fighting between Iran and the United States was broken by renewed attacks in the Middle East. The pause, which lasted about three days, was shattered when Iran launched a barrage of missiles at American forces in the Middle East on Tuesday, while the U.S. military partnered with Saudi Arabia to strike Tehran-backed militias in Iraq.The price of Brent crude, the global benchmark, leaped to more than US$90 per barrel on Wednesday morning as news of the fighting renewed fears about the global flow of oil, while the price of the American benchmark West Texas Intermediate jumped to more than US$84 per barrel. Get breaking National news Get breaking Canada news delivered to your inbox as it happens so you won't miss a trending story. Western Canada Select was selling at around US$67 per barrel on Wednesday.The price of Brent crude swung as low as US$72 per barrel earlier this month and as high as US$102 last week amid uncertainty about whether the United States and Iran could reach a deal to allow oil tankers to move freely again from the Middle East to customers worldwide. Story continues below advertisement The flow throug...