Oil Prices Weaken on Renewed US-Iran Tensions

Oil prices edged lower on Thursday as investors weighed the uncertainty of renewed military strikes between the US and Iran that risk disrupting supplies from the Middle East.

Brent crude futures fell $0.43, or 0.45%, to $95.2 a barrel at 0029 GMT, while U.S. West Texas Intermediate crude futures were down $0.24, or 0.26%, at $90.77.

The latest attacks were the most substantial exchange of fire between the US and Iran since July, with the war now in its seventh month.

Tony Sycamore, an analyst from IG, said that tentative signs of easing tensions offered some relief to markets, but warned that it was a 'big if' if this trend continued.