SINGAPORE: Oil prices rose on Thursday as the Organization of the Petroleum Exporting Countries forecast relatively strong growth in global demand over the next two years and the market eyed disrupted US production amid a cold blast, as well as geopolitical tensions in the Middle East, according to Reuters.
Brent crude futures gained 21 cents, or 0.3 percent, to $78.09 a barrel by 8:05 a.m. Saudi time, while US West Texas Intermediate crude futures rose 40 cents, or 0.6 percent, to $72.96.