Oil slips as markets look for cues on Gulf supplies
Oil prices erased some of their previous gains on Thursday, despite escalating attacks in the Gulf as investor focus shifted to supply flows through the key choke points in the region. Brent futures fell 96 cents, or 1.06%, to $89.78 a barrel as of 0418 GMT. US West Texas Intermediate (WTI) crude fell 64 cents, or 0.76%, to $83.82 a barrel. Brent settled up 7.91% in the previous session and WTI up 6.56% in one of the sharpest spikes of the Iran war, reversing a 5% plunge on Tuesday after a pause in hostilities in the five-month conflict.