Oil prices climb as investors reassess Middle East ceasefire prospects

Oil prices climbed on Thursday, recovering some of the previous ‌day’s losses as investors reexamined prospects for de-escalation in the Middle East as Iran said it was still reviewing a U.S. proposal to end the war, which has disrupted energy flows. Brent futures rose $1.13, or 1.1%, to $103.35 a barrel by 0051 GMT, while ​US West Texas Intermediate crude futures were up $1.08, or 1.2%, at $91.40 a barrel. Both benchmarks slumped more ​than 2% on Wednesday. Despite reviewing the proposal, Iran has no intention of holding talks ⁠to end the widening Middle East conflict, the country’s foreign minister said on Wednesday. US President Donald Trump ​will hit Iran harder if Tehran fails to accept that the country has been “defeated militarily”, White House press secretary Karoline ​Leavitt said.