Oil Prices Rise on Middle East Risks
Oil prices recovered from early losses on Thursday as persistent Middle East tensions offset pressure from rising regional crude output and higher US inventories. Brent futures advanced 45 cents to reach $93.21 a barrel.
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Brent Crude Oil rose 45 cents, or 0.49%, to $93.21 a barrel on Thursday morning following an earlier drop. The rebound came as ongoing Middle East tensions countered downward pressure from rising regional crude output. Both benchmarks had previously fallen more than $1 per barrel during early trading.
