Oil Rises Amid Middle East Tensions

Oil prices increased on Thursday as concerns over a potential escalation of the Middle East conflict, which could disrupt crude oil flows from the vital exporting region. Brent crude futures rose by 94 cents, or 1.27%, to $74.84 a barrel, while US West Texas Intermediate (WTI) crude futures climbed 99 cents, or 1.41%, to $71.09. Both crudes jumped more than $1 a barrel earlier in the session. US crude inventories rose by 3.9 million barrels to 417 million barrels in the week ended Sept. 27. Source: Qatar News Agency