Oil prices edged higher on Thursday, clawing back some of the sharp losses made in the previous session on the back of easing fears of an escalation in the conflict between the United States and Iran and swelling U.S. crude stocks.
Prices are now back at levels seen before a U.S. drone strike on Jan. 3 that killed a top Iranian general and a rocket attack by Iran on Iraqi airbases hosting U.S. forces, which sent crude to its highest in four months.
Brent crude futures were up 21 cents, about 0.3%, at $65.65 a barrel after a 4.1% fall on Wednesday. West Texas Intermediate futures were up 40 cents, or 0.67%, to $60.01 a barrel after falling nearly 5% a day earlier.
Source : Reuters