Oil prices firm as Middle East tensions heat up – Markets

LONDON: Oil prices rose on Thursday after an oil tanker was boarded by an armed group in Oman, raising the prospect of escalating conflict in the Middle East.

Brent crude futures gained $1.03, or 1.3%, to $77.83 a barrel by 0916 GMT and US West Texas Intermediate crude futures rose 98 cents, or 1.4%, to $72.35, though gains were capped by a surprise build in US crude stockpiles.

The United…