Oil prices gave up some of their gains on Thursday as oil tankers continued to make their way out of the Middle East even as tensions there escalated, with the U.S.-Iran war spreading beyond its main fronts.
Brent futures fell $1.29, or 1.42%, to $89.45 a barrel as of 0110 GMT. U.S. West Texas Intermediate (WTI) crude fell 56 cents, or 0.66%, to $83.90 a barrel. Brent settled up 7.91% in the previous session and WTI up 6.56% in one of the sharpest spikes of the Iran war, reversing a 5% plunge on Tuesday after a pause in hostilities in the five-month conflict.
