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Oil Prices Regain Some Ground On Israel-Hamas War Uncertainty

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Oil prices rose on Tuesday, recovering some of the previous day’s losses, as investors remained nervous that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region, causing potential supply disruptions.

Brent crude futures climbed 57 cents, or 0.6%, to $90.40 a barrel by 0321 GMT, while U.S. West Texas Intermediate crude futures increased 54 cents, or 0.6%, to $86.03 a barrel.

“The market is up on an adjustment after a drop in the past two sessions and on nagging fears of possible supply disruptions in the Middle East,” said Yuki Takashima, economist at Nomura Securities.

Read the full story on Reuters here.