Arab News Headlines

Oil Prices Edge Higher as Middle East Conflict Stokes Supply Concerns

Singapore, – Oil prices edged higher in early trade on Thursday as the conflict in the Middle East kept investors on edge about whether it could disrupt oil supplies around the region.

Brent crude futures rose 38 cents at $85.01 a barrel, while US West Texas Intermediate crude futures gained 46 cents at $80.90 a barrel.

Oil prices eased about 1% in yesterday’s trading to a three-week low on a rising US dollar and after the US Federal Reserve kept interest rates steady. Brent futures settled at $84.63 a barrel while US West Texas Intermediate (WTI) crude fell 58 cents, or 0.7%, to $80.44.

Source: Qatar News Agency