Oil Prices Edge Higher as Iran Deal Doubts Resurface

AI Summary

Oil prices have risen slightly after falling sharply earlier, driven by uncertainty around a potential US-Iran peace agreement and ongoing disruptions in Middle Eastern energy supplies. Brent crude and U.S. WTI crude have seen modest gains amidst these concerns.

Oil prices edged higher in early Asian trade on Thursday, rebounding from the previous session’s steep selloff, as investors reassessed the chances of a near-term U.S.-Iran peace agreement and weighed continuing disruptions to Middle East energy flows. Brent crude futures rose 0.66%, to $101.94 a barrel in early trade, while U.S. West Texas Intermediate crude gained 0.74% to trade at $95.78 a barrel. Both benchmarks tumbled more than 7% on Wednesday after reports suggested Washington and Tehran were moving closer to a framework agreement…