WASHINGTON (dpa-AFX) - Oil prices continued to march higher on Thursday, with Brent crude contract rising for a fifth day and climbing above $75 a barrel on concerns that a wider Middle East conflict could disrupt global energy shipments.
Benchmark Brent crude futures jumped 2.1 percent to $75.44 per barrel while WTI crude futures were up 2.2 percent at $71.66.
Israeli forces today attacked central Beirut, leaving at least six persons dead and seven injured.
Amid a rapidly escalating regional conflict, U.S. President Joe Biden has said he would not support an Israeli attack on Iranian nuclear sites.
A major strike by Israel on Iran's export capacity could take 1.5 million barrels of daily supply off the market, according to Citigroup Inc.
As geopolitical tensions take center stage, traders shrugged off official data that showed U.S. crude inventories unexpectedly rose by 3.9 million barrels last week, their biggest increase in about five months.
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