Oil prices rose on Thursday, holding near their highest levels in weeks, as the deadlocked standoff between the United States and Iran kept supply concerns elevated in the Middle East.
Brent crude, the international benchmark, rose 0.3% to $94.5 a barrel, while US benchmark crude edged up 0.2% to $87.4 a barrel as of 14:00 CET.
Prices have climbed steadily since the start of August, when Brent was trading at around $87.38 a barrel, as the standoff over the Strait of Hormuz keeps supply concerns elevated even without any single new escalation.
Both benchmarks remain well above the barrel prices they were trading at before the war began.
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