Benghazi – Oil prices rose during Thursday’s trading. This recovered some of the previous session’s losses. Investors are re-evaluating the prospects for de-escalation in the Middle East. This follows Iran’s announcement. Iran is still considering a US proposal.
The proposal aims to end the war. This conflict has negatively impacted energy flows. Brent crude futures rose by $1.13. This is equivalent to 1.1%. It reached $103.35 per barrel. US West Texas Intermediate crude futures also increased. They gained $1.08, or 1.2%. The price settled at $91.40 per barrel.