Oil prices up 2% on Gaza ceasefire rejection, US fuel stocks data
Oil prices gained over 2% on Thursday on concerns of a broadening conflict in the Middle East after Israel rejected a ceasefire offer from Hamas.
Brent futures rose $2.13, or 2.7%, to $81.34 a barrel at 12:19 p.m. (1719 GMT). U.S. West Texas Intermediate crude gained $2.00, or 2.7%, to $75.86.
The Brent benchmark breached $80 a barrel for the first time since Feb. 1 as it extended into a fourth straight session of gains.
Israeli forces bombed the southern border city of Rafah on Thursday after Prime Minister Benjamin Netanyahu rejected a proposal to end the war in the Palestinian enclave.
