News Oil Updates – prices edge up on escalation in Middle East tensions

SINGAPORE: Oil prices ticked up during trade on Thursday, after rising a dollar a barrel in the prior session, as investors braced for a worsening of the Middle East crisis, potentially involving Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries.

Brent crude futures was up 5 cents to $90.53 a barrel at 9:32 a.m. Saudi time, while US West Texas Intermediate crude futures gained 4 cents at $86.25 a barrel.

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