MARITIME BUSINESS LEADERS
Oil prices rise as M.East tensions fuel fears of supply disruptions
Oil prices rose on Thursday as continued tensions in the Middle East kept markets on edge over more supply disruptions, while an outsized draw in U.S. inventories also underpinned crude.
Crude prices remained close to a five-month high hit earlier this week, amid few signs of a clear path towards de-escalation in the Middle East.
Brent oil futures for December rose 1.7% to $110.67 a barrel by 23:54 ET (03:54 GMT), while West Texas Intermediate crude futures rose 1.4% to $98.51 a barrel.
Oil prices rose on Thursday as continued tensions in the Middle East kept markets on edge over more supply disruptions, while an outsized draw in U.S. inventories also underpinned crude.
Crude prices remained close to a five-month high hit earlier this week, amid few signs of a clear path towards de-escalation in the Middle East.
Brent oil futures for December rose 1.7% to $110.67 a barrel by 23:54 ET (03:54 GMT), while West Texas Intermediate crude futures rose 1.4% to $98.51 a barrel.
Source: Investing.com
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