Oil Edges Higher, Supported by Supply Disruption Worries
0005 GMT — Oil edges higher, supported by prospects of supply disruptions. Israel's military began activating troops in Gaza on Sunday as part of a larger ground operation, the WSJ reported. The move follows earlier news that the Israeli military had begun launching strikes in the Gaza Strip and had bombed Houthi controlled ports of Yemen. Oil has found some support from the reports, ANZ Research analysts say in a research report. The escalation has boosted fears of a broader regional conflict, they add. Front-month WTI crude oil futures are up 0.2% at $62.64/bbl; front-month Brent crude oil futures are 0.1% higher at $65.47/bbl. (ronnie.harui@wsj.com)
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