Oil Updates – crude rises as Middle East worries offset US crude stock buildup

HOUSTON/BEIJING: Oil prices rose on Wednesday after two straight days of losses, as the deadlock in Gaza ceasefire talks renewed uncertainty about the security of supplies from the Middle East, offsetting a bigger-than-expected build in US crude inventories, according to Reuters.

Brent crude futures were up 25 cents at $89.67 per barrel at 9:50 a.m. Saudi time, while US West Texas Intermediate crude futures rose 24 cents to $85.47.