Forecasts of an above-normal hurricane season also supported prices
An oil tanker in the sea outside the Puerto La Cruz oil refinery in Puerto La Cruz, Venezuela. Picture: REUTERS/ALEXANDRA ULMEROil prices rose on Thursday, supported by tensions in the Middle East, but failed to recoup most of the previous day’s losses after a surprise build in crude stockpiles in the US, the world’s top oil consumer.
Israeli aircraft struck what the country’s military said were rocket launch sites in south Lebanon early on Thursday in response to earlier projectile fire towards Israel. Risks of potential supply disruptions amid a forecast for more storms in the Atlantic also supported prices, Moya said. Prices also fell steeply in the previous session after the US Energy Information Administration said crude stockpiles rose by an unexpected 3.6-million barrels last week.
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