Oil Gains after Early Drop as Geopolitical Risks Support Market

Detailed summary

Oil prices rose on Thursday after recovering from earlier losses, as persistent geopolitical tensions in the Middle East offset pressure from rising regional crude output. Brent futures advanced 45 cents, or 0.49%, to $93.21 a barrel by 0732 GMT. US West Texas Intermediate crude climbed 27 cents, or 0.31%, to $86.80, Reuters said. Both contracts fell more than $1 per barrel in early Asian trading.