Oil futures mark first gain in 4 sessions

Oil futures finished higher on Thursday, marking their first gain in four sessions. Prices have “erased the premium that was added since the Hamas attack on Israel,” said StoneX’s Kansas City energy team, led by Alex Hodes, in a Thursday note. However, the conflict “continues to escalate, as troops press towards Gaza City today and are met with resistance from Hamas militants,” they said. “Iran continues to threaten the west, that if Israel does not pull out of Gaza, that the war will escalate, and other militant groups will get involved.” December West Texas Intermediate crude
CLZ23,
+0.27%
rose $2.02, or 2.5%, to settle at $82.46 a barrel on the New York Mercantile Exchange.