Oil extends gains on Middle East supply worries
Oil prices rose on Thursday, adding to solid gains in the previous session on persisting concerns over Middle Eastern supply following disruptions at a field in Libya and heightened tension around the Israel-Gaza war.
Brent crude rose 38 cents, or 0.5%, to $78.63 a barrel by 0440 GMT, while U.S. West Texas Intermediate crude futures rose 52 cents, or 0.7%, to $73.22.
Both benchmarks rose by around 3% to settle higher for the for the first time in five days on Wednesday, with WTI seeing the biggest daily percentage gain since mid-November.
