Oil Extends Gains For Fifth Day As Trump Sharpens Iran Rhetoric

Oil prices traded higher for a fifth consecutive session on Thursday amid prevailing uncertainty over U.S.-Iran peace talks and tensions involving the United Arab Emirates, Oman and Iran. The prolonged conflict raised concerns over supply disruptions from West Asia.

Brent crude prices climbed more than 2 percent to $93.78 a barrel as U.S.-Iran talks remain deadlocked and U.S. President Donald Trump sharpened his rhetoric against Tehran, warning of economic consequences against any country that provided “any type of lifeline to Iran.”