New york: Oil prices rose about one percent today, moving away from seven-week lows hit in the previous session, after the US military launched new strikes on Iran while market data showed another significant draw in US crude inventories. Brent crude futures rose 83 cents, or 0.9 percent, to $92.29 per barrel, while US West Texas Intermediate crude gained 68 cents, or 0.8 percent, to $88.97 per barrel.

According to Oman News Agency, Brent had ended the previous session at its lowest level since 17 April 2026, while WTI closed at its lowest since 29 May after Israel and Iran halted their exchange of attacks following an appeal from President Trump. US crude inventories fell last week for the eighth consecutive week, while gasoline stocks also declined, the data showed.