Oil rises 0.72% to $79 a barrel on Gaza ceasefire rejection, US stock data
Oil prices gained ground on Thursday as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks.
Brent crude futures rose 57 cents, or , to $79.78 a barrel by 1043 GMT. U.S. West Texas Intermediate crude futures were up 47 cents, or 0.64%, at $74.33.
The Brent benchmark is approaching $80 a barrel again after making gains in each of the previous three sessions.
