Muscat: Brent crude futures climbed by nearly two percent during early trading, rising $1.40, or 1.5 percent, to reach $97.56 per barrel. The rebound comes after Brent had fallen sharply by seven percent in the previous trading session.
Meanwhile, U.S. West Texas Intermediate (WTI) crude futures also edged higher to $91.25 per barrel. However, WTI prices still remained down by $5.30, or 5.5 percent, compared to settlement levels recorded last Friday.
Market analysts said the fresh military developments in the Middle East have reignited concerns over possible disruptions to global oil supply, especially as investors closely monitor diplomatic talks aimed at ending the conflict.
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