New York oil prices jump for second day on continued Middle East jitters

New York oil prices surged for a second straight session amid geopolitical jitters in the Middle East.

On the New York Mercantile Exchange, West Texas Intermediate for November delivery closed at $72.09 a barrel, up $1.53 and 2.17% from the previous session.

December delivery closed at $71.74 a barrel, up $1.70 and 2.43% from the previous session.

Brent crude prices for December delivery rose nearly $3 over the two days to close at $76.04 a barrel, up $1.75 and 2.36% from the previous session.

The move is interpreted as the aftermath of U.S. Secretary of State Tony Blinken's two-and-a-half-hour meeting with Prime Minister Benjamin Netanyahu in Israel, but with no progress related to negotiations on a cease-fire in Gaza.