Oil prices extend uptrend on tensions in West Asia
Oil prices rose on Thursday for the third day in a row as fears of supply disruptions amid heightened tensions in West Asia overshadowed swelling US crude inventories.
Brent crude futures were at $72.30 a barrel at 0839 GMT, up 53 cents from their last close. Brent is heading for its biggest weekly rise in six weeks.
US West Texas Intermediate (WTI) crude futures were at $62.49 per barrel, up 47 cents from their previous settlement.
Oil was drawing support from the risk of conflict in West Asia, with helicopters carrying US staff from the US embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran.
