TOKYO (Reuters) – Oil prices rose in early Asian trade on Thursday as persistent fears over escalating tensions in the Middle East outweighed easing concerns about transport disruptions as some global shipping firms said they were returning to the Red Sea route. Brent crude futures climbed 20 cents, or 0.3%, to $79.85 a barrel by 0133 GMT. U.S. WTI crude futures were up 24 cents, or 0.3%, at $74.35 a barrel. Prices dropped nearly 2% on Wednesday as major shipping firms began returning to the Red Sea. “Concerns about shipping in the Red Sea have eased, but continued worries about tensions in the Middle East, especially on Iran’s involvement in the region, make it difficult to sell further,” said Hiroyuki…
Published Date: 2023-12-28
Source: Investing.com UK
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