Brent crude rises to $97.4 per barrel

Oil prices edged higher on Thursday, partially recovering losses from the previous session after news that the United States and Iran had agreed to a two-week ceasefire to allow for negotiations.

According to Report, which cites the trading data, June futures for Brent crude on the London ICE Futures exchange increased by $2.68 (2.83%) to $97.43 per barrel.

WTI crude futures for May delivery on the New York Mercantile Exchange (NYMEX) rose by $3.51 (3.72%) to $97.92 per barrel.

Oil prices were supported by doubts over the durability of the ceasefire, as well as uncertainty surrounding the prospects for a near-term restoration of oil supplies through the Strait of Hormuz.

Israel continued to carry out strikes in Lebanon on Wednesday, which Tehran viewed as a violation of the ceasefire agreement.