Oil stocks rose by more than 1% on Thursday, compensating for losses from the previous session due to renewed concerns about the tension in the Middle East ahead of presidential elections in the USA.
At the time of writing the article, Brent crude oil fell by 1.2% to $41.21 per barrel, while WTI oil increased by 1.4% to $39.14 per barrel.
"Oil continues to fluctuate in response to geopolitical events, and the accident with the escalating geopolitical risk relative to the election in the USA is a current catalyst," noted the analyst.
Investors continue to monitor the situation's development and react to any news and events that may impact the global oil market.
