Oil prices rise on concerns about US-Iran tensions

Oil prices edged up on Thursday morning as investors worried about escalating tensions between the US and Iran, on fears that any attacks on Tehran or shipping could lead to supply disruptions. Brent crude oil futures were up 27 cents, or 0.39%, at $69.67 a barrel at 0350 GMT. US West Texas Intermediate crude rose 29 cents, or 0.45%, to $64.92. Both benchmarks settled higher on Wednesday. Brent futures gained 0.87% and WTI gained more than 1.05%, as investor worries about US-Iran tensions overshadowed a build in US crude stocks. US President Donald Trump said after talks with Israeli Prime Minister Benjamin Netanyahu on Wednesday that they reached no “definitive” agreement on how to move forward with Iran, but he insisted negotiations with Tehran would continue.