U.S. crude oil rose nearly 1% on Thursday, one day after the Federal Reserve slashed interest rates for the first time in more than four years and as tensions in the Middle East continued to escalate.
The Fed surprised the market on Wednesday with a bigger-than-expected cut of a half percentage point.
Oil prices, however, closed slightly lower as rate cuts had largely already been priced in.
Here are Thursday's energy prices:Crude futures are on the rebound again as tensions soar between Israel and the Iranian-backed militia group Hezbollah in Lebanon.
Oil market analysts have warned for months that an all-out war between Israel and Hezbollah, which until now have traded rocket fire, could force OPEC member Iran to directly intervene, raising the risk of disruptions to Middle East crude oil supplies.
Persons:
Israel, Yoav Gallant
Organizations:
Federal Reserve, Fed, NBC News, Israeli
Locations:
Israel, Lebanon, Lebanon . U.S, Gaza, Iran