Oil rises for a third day amid escalating Middle East tensions

Arab News | May 16, 2019 at 6:20 AM
  • Oil prices rose on Thursday for a third straight session, as the risk of conflict in the Middle East stoked fears of supply disruptions, negating an unexpected rise in US inventories.
  • Brent crude futures were at $72.16 a barrel at 0349 GMT, up 39 cents, or 0.5 percent, from their last close.
  • US West Texas Intermediate (WTI) crude futures were at $62.41 per barrel, up 39 cents, or 0.6 percent, from their previous settlement.