Oil prices rose in Asian trading on Thursday, as lingering concerns over geopolitical tensions between the US and Iran led traders to price in higher risk premiums, Report informs referring to trading data.
Markets also analyzed some signs of strengthening in the US economy, although a sharp increase in US crude inventories limited any further gains.
April Brent crude futures rose 0.4% to $69.64 per barrel, while WTI futures rose 0.4% to $64.74 per barrel.
While Iran and the US reported some progress in weekend talks, no final agreement on Tehran's nuclear activities has been reached, keeping markets on edge.
Other reports also indicated that Washington is considering seizing oil tankers carrying Iranian crude, while a meeting between US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu provided no clear signals.
Markets are concerned that any military escalation in the Middle East would disrupt production and supply in the oil-rich region.