NEW YORK/LONDON (dpa-AFX) – Oil prices rose on Thursday. The price for a barrel (159 liters) of North Sea Brent for delivery in June rose to $84.25 in the morning. That was 66 cents more than the evening before. The price for a barrel of the US variety West Texas Intermediate (WTI) rose by 69 cents to $79.68.
On Wednesday morning, oil prices had fallen to their lowest level since mid-March. However, a recovery began on Wednesday afternoon, making up for the losses.
Hopes for a ceasefire in the Gaza conflict have not been fulfilled. Rather, the Israeli army has advanced to the east of the city of Rafah in the south of the Gaza Strip. The army said on Wednesday that there were “precise” attacks in “certain areas” in eastern Rafah. After Israeli units advanced towards Rafah on Tuesday night, it was feared that this was the beginning of a major offensive on the city. US President Joe Biden has meanwhile threatened to stop arms deliveries.
The escalation in the Middle East has repeatedly caused uncertainty in the oil market. However, a sustained increase in oil prices could not be observed./jsl/stk
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