Oil jumps more than 2%.. Brent surpasses $93 to highest level in a month

Agencies: Oil prices rose more than 2% today (Thursday) to reach their highest level in a month, amid concerns that the ongoing standoff between the United States and Iran will continue to disrupt supplies from the Middle East and reduce global supply. Brent crude futures for October delivery rose $1.93, or 2.11%, to $93.55 per barrel, while U.S. West Texas Intermediate (WTI) crude futures for September delivery rose $1.73, or 2.02%, to $87.56 per barrel. Both benchmarks rose for a fifth consecutive session today (Thursday), after settling at their highest levels since July 24 on Wednesday. The September U.S. crude contract expires later on Thursday.