Oil edges higher after previous day's plunge - Reuters

Oil edges higher after previous day's plunge - Reuters:

Oil prices edged higher on Thursday, clawing back some of the sharp losses made in the previous session on the back of easing fears of an escalation in the conflict between the United States and Iran and swelling U.S. crude stocks.

Prices are now back at levels seen before a U.S. drone strike on Jan. 3 that killed a top Iranian general and a rocket attack by Iran on Iraqi airbases hosting U.S. forces, which sent crude to its highest in four months. 


Brent crude futures were up 46 cents at $65.90 a barrel by 0917 GMT after a 4.1% fall on Wednesday. West Texas Intermediate futures were up 50 cents to $60.11 a barrel after falling nearly 5% a day earlier.

In comments reported by Iran’s Tasnim news agency, a Revolutionary Guards commander said Iran would take “harsher revenge soon” after Tehran launched missile attacks on U.S. targets in Iraq in retaliation for last week’s U.S. killing of an Iranian general.