Oil Prices Climb as Iran Tensions Raise Middle East Supply Concerns

Oil prices moved higher on Thursday, remaining close to their highest level in six weeks as fresh U.S. strikes on Iran and renewed Israeli threats against Tehran intensified concerns over potential disruptions to Middle Eastern crude supplies.

Brent crude futures gained $1.76, or 1.8%, to $97.39 a barrel by 10:25 GMT, recovering from earlier losses during the session.

U.S. West Texas Intermediate crude futures also advanced, rising $1.91, or 2.1%, to $92.92 a barrel.

Both benchmarks were on track for a fourth consecutive session of gains after reaching six-week highs earlier in the day, as traders continued to assess the risks posed to regional oil flows by escalating tensions.