Oil Prices Rise As Investors Reassess Middle East Ceasefire Prospects

Oil prices rose on Thursday, recovering some of the losses from the previous session, as investors reassess the prospects for de-escalation in the Middle East, following Iran's announcement that it is still considering the US proposal to end the conflict that has disrupted energy flows.

Brent crude futures climbed $1.13, or 1.1%, to $103.35 a barrel, while West Texas Intermediate (WTI) crude futures rose $1.08, or 1.2%, to $91.40 a barrel.

Both benchmarks fell by more than 2% on Wednesday.

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