Oil prices rise on fears over Middle East supply disruptions
Iran fires over 180 missiles on Israel, says attack is over
Israel and the U.S. vow retaliation against Tehran
OPEC panel meets later on Wednesday

LONDON, Oct 2 Reuters Oil prices climbed more than 3 on Wednesday on rising concerns that Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran39;s biggest ever military blow against Israel.

Brent futures reached their highest in a month, leaping 2.42, or 3.3, to 75.98 a barrel. U.S. West Texas Intermediate WTI crude spiked 2.47, or 3.5, to 72.30 at 1050 GMT.

Both crude benchmarks on Tuesday surged more than 5 before closing around 2.5 higher.

Iran said early on Wednesday that its missile attack on Israel was over barring further provocation, while Israel and the U.S. promised to strike back against Tehran as fears of a wider war intensified.

This could include damaging or obliterating Iran39;s oil facilities, said Tamas Varga of oil broker PVM.

Tehran said any Israeli response to the attack, which Israel said involved more than 180 ballistic missiles, would be met with vast destruction.

Varga noted Iran39;s or its allies39; retaliation could strike Saudi oil facilities like in 2019 or see the closure of the Strait of Hormuz. Any of these events would irretrievably send oil prices considerably higher, he said.

In another escalation of the conflict, the Israeli military on Wednesday sent regular infantry…