Oil prices rise amid fears of escalating geopolitical tensions.

Oil prices rise amid fears of escalating geopolitical tensions

Oil prices recorded an increase on Thursday as investors expressed concerns over rising geopolitical tensions. Brent crude futures rose by 34 cents, or 0.49%, reaching $69.74 per barrel, while West Texas Intermediate crude increased by 37 cents, or 0.57%, settling at $65 per barrel.

Both crude prices ended the previous session higher, with Brent crude rising by 0.87% and the U.S. crude increasing by more than 1.05%, supported by growing fears regarding supply levels.