Oil prices are rising for the fourth consecutive day on Wednesday morning amid new signals of conflict escalation in the Middle East.

Accordingly, Brent crude oil futures for November delivery reached $99.02 a barrel on the ICE Futures stock exchange in London, up $1.1 (1.12%) from the previous close. On Tuesday, they had risen $0.92 (0.9%) to $97.92 a barrel.

And WTI crude oil futures for October delivery went up $0.97 (1.04%) to $94 a barrel in online trading on the New York Mercantile Exchange (NYMEX). On the previous trading day, they had increased by $1.55 (1.7%) to $93.03 per barrel.