Oil prices edge higher over wider Middle East conflict ...Middle East

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Oil prices edge higher over wider Middle East conflict
ISTANBUL: Oil prices increased on Thursday due to a wider regional conflict in the Middle East, home to the vast majority of oil reserves, fuelling fears of a disruption to crude oil flows, reported Anadolu Agency.International benchmark Brent crude rose by 1.26 per cent to US$74.83 per barrel at 11.01 am local time (0801 GMT), up from the previous session’s close of US$73.9.US benchmark West Texas Intermediate (WTI) increased by 1.4 per cent to US$71.08 per barrel after closing at US$70.1 in the prior session.Cross-border fighting between Israel and Lebanon is expected to intensify further as the Israeli army announced “limited, localised” ground raids in southern Lebanon.Oil prices had jum

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