Oil rises as Middle East conflict deepens, gains capped by global supply outlook

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Oil rises as Middle East conflict deepens, gains capped by global supply outlook - Channel News Asia

Quick Summary:

Oil prices ticked higher in early trade on Thursday as investors weighed the escalating conflict in the Middle East and the potential for disruption to crude flows, against an amply-supplied global market.

Brent crude futures increased 64 cents, or 0.87 per cent, to $74.54 a barrel as of 0006 GMT.U.S.

An Israeli strike on central Beirut's Bachoura neighbourhood early on Thursday left two killed and 11 wounded, the Lebanese health ministry said in a statement.