Oil prices rise as U.S. and Israel weigh fresh Iran strikes

Oil prices rose Thursday as the U.S. reportedly plans renewed strikes against Iran, with Brent crude up 1.71% to $110.67 a barrel and West Texas Intermediate gaining 1.42% to $98.53. The New York Times reported U.S. and Israeli militaries have drawn up specific plans for a "short but intensive" operation after next month's midterm elections. The U.S. also ordered non-emergency government employees to leave Saudi Arabia, citing Houthi attacks on civilian targets. Analysts suggest the economic impact of elevated oil prices may be less severe than in past decades, as gasoline now accounts for about half the share of average American disposable income compared to a decade ago.