Oil rises as Israel threatens Iran again

Crude futures climbed on Thursday, according to The Express Tribune, as fresh Israeli threats against Iran and recent US strikes on Tehran raised concern over Middle East supply disruption. Brent contracts gained 15 cents, or 0.16 per cent, to $95.78 per barrel at 1700 GMT, while US WTI crude climbed to $91.64, 63 cents higher, a gain of 0.69 per cent. Both benchmarks were on track for a fourth straight daily gain, touching six-week peaks at an earlier point in the day.

Israeli Defence Minister Israel Katz reiterated that Israel could cripple Iran's armed forces and civilian infrastructure, among them energy sites, should Tehran launch attacks against it. The statement added to market anxiety about possible disruption to oil flows.

Russian President Vladimir Putin told a Far East economic gathering on Thursday there was a chance of ending the Ukraine war through talks. He said several countries, including the United States and China, were prepared to back a peace settlement, and his remarks tempered the rally in crude. Separately, Iran added more vessels to its list of ships considered non-compliant, which could face fines, seizure or detention if they attempt to pass through the strait.