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Oil gained as the prospect of looser monetary policy countered a decreasing premium for geopolitical risk.

Oil rose to settle above $70 a barrel for the first time in a week, bolstered by bullish export data and a lack of surprises from the Federal Reserve.

Oil rose for a second day following a rally in equity markets as thin liquidity left crude susceptible to broader moves.

Oil climbed after Iran seized a tanker in the Gulf of Oman, the latest in a run of incidents that could threaten key shipping lanes.

Oil reversed earlier losses and quickly moved higher after it was reported that the US and its allies believe major missile or drone strikes by Iran or its proxies against military and government targets in Israel are imminent.

Oil rose after the US and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.

Oil extended its rally for a fourth day, reversing course midday to climb after the Biden administration announced plans to replenish strategic reserves after completing maintenance work later this year.

Oil tipped higher as investors weighed a pledge from China to revive consumption against broader low-risk sentiment.

Oil rose for a second day as a bullish US stockpile report blunted concerns over the potential effects of an economic slowdown.

Oil gained as anxieties surrounding a high-stakes OPEC+ meeting and signs that the Federal Reserve is done raising interest rates outweighed an increase in US crude stockpiles.