Oil Prices Mixed Amid Mideast Tensions and Ukraine Hopes

Oil prices were mixed on Thursday as concerns about Middle East supplies persisted due to US strikes on Iran and renewed Israeli threats against Tehran. The Brent crude futures contract settled down 11 cents, or 0.12%, at $95.52 a barrel, while the US West Texas Intermediate crude futures contract rose 29 cents, or 0.32%, to $91.30.

Both contracts hit six-week highs earlier in the session, but were pressured by comments from Russian President Vladimir Putin signalling openness to peace negotiations. The conflict has caused disruption to Middle East supplies, which in turn affects global oil prices.

The Iranian Red Crescent reported that four people were killed and 67 wounded at a wedding ceremony near the Strait of Hormuz after Tuesday night's US strikes across Iran. Three Iranian Army pilots were also killed in the strikes, according to the semi-official Tasnim news agency.