Oil prices are rising Thursday morning amid further signs of escalating conflict in the Middle East.

Accordingly, the price of August Brent crude oil futures on the ICE Futures stock exchange in London is at $94.01 per barrel, which is $0.91 (0.98%) higher than the previous close. On Wednesday, it had risen by $1.65 (1.8%) to $93.10 per barrel.

And on the New York Mercantile Exchange (NYMEX), the July WTI crude oil futures rose by $1.08 (1.2%) to $91.11 per barrel. In the previous session, they had increased by $1.83 (2.07%), reaching $90.03 per barrel.