Oil up on Thursday

Oil prices rose as traders watched for Israel’s response to Iran’s missile attack, with Brent hitting $77 a barrel and West Texas Intermediate (WTI) close to $74. Fears of escalating conflict loom as Iran threatens more missile launches. Meanwhile, US crude stockpiles saw the largest increase since April, adding to market volatility.

Moreover, concerns over China’s economic slowdown and the lack of fresh stimulus from Beijing triggered a market selloff earlier this week, contributing to market uncertainty.

Attribution: Bloomberg

Subediting: M. S. Salama