US Escalation in Middle East Drives Oil Prices Higher

Oil prices have continued their upward trend for a third consecutive day as tensions in the Middle East escalate. West Texas Intermediate has risen to around $93 per barrel, up almost 3% from the previous session. Brent crude also settled above $102 on Thursday.

The US is considering sending another aircraft carrier group to the region, which could further increase the risk of a conflict with Iran. This move would potentially harm energy flows from the area and impact any recovery efforts in the region. A US official has confirmed that an additional aircraft carrier and 10,000 sailors and Marines may be deployed to the Persian Gulf.

The increased military presence is seen as a show of force by the US government, particularly with President Donald Trump at the helm. The exact timing and details of the deployment are still unclear, but it's clear that the situation in the Middle East remains volatile.