Oil prices moved higher on Thursday, recovering some of the losses from the previous day as uncertainty around the Middle East situation continued.
Brent crude rose about 1.1% to $103.35 a barrel, while West Texas Intermediate climbed 1.2% to $91.40 a barrel.
The rebound came after both benchmarks had dropped more than 2% on Wednesday. At that time, markets were briefly hopeful about a possible ceasefire, but that optimism faded quickly.
Part of the uncertainty comes from Iran, which said it is reviewing a proposal from the United States but is not ready to enter negotiations right now.
For investors, this creates a mixed picture. On one hand, there is still hope for de-escalation. On the other, the lack of clear progress keeps markets on edge—pushing oil prices up again as traders react to ongoing risk in the region.