emirates7 - Oil prices rose by nearly 1 percent in early trading today, moving away from the seven-week lows recorded in the previous session. The rebound was driven by geopolitical developments in the Middle East, tightening global supply, and a significant in US crude inventories.

Brent crude futures gained 83 cents, or 0.9 percent, to reach $92.29 a barrel. Concurrently, US West Texas Intermediate (WTI) crude futures rose by 68 cents, or 0.8 percent, to trade at $88.97 a barrel.