Oil edges up after plunge, as market recovers poise
TOKYO: Oil prices rose on Thursday, recouping some of the heavy losses from the previous session as the market rebalanced after Washington and Tehran looked to defuse a potential Middle East crisis.
Prices had soared in response to the killing of an Iranian general in an American air strike last week and Iran’s retaliatory attack on US forces in Iraq on Wednesday, before diving more than 4 per cent when two countries quickly ratcheted back tensions, hitting a three-week low.
