India, April 26 -- Oil prices traded higher on Friday and were on track to snap a two-week losing streak amid persistent geopolitical unrest in the Middle East and signs of tightness in global oil markets.
Benchmark Brent crude futures rose 0.3 percent to $89.29 a barrel, while WTI crude futures were up 0.4 percent at $83.92.
Geopolitical tensions persist, with reports suggesting that Israel will soon begin evacuating civilians from Rafah ahead of a planned ground attack on Gaza's southernmost city.
The World Bank has warned that an escalation in the Middle East might push oil prices beyond $100 a barrel.
Data showed earlier in the week that overall U.S. inventories shrank more than expected in the past week, indicating some tightness i...