India, Nov. 5 -- Oil prices traded higher on Thursday, after having fallen more than 8 percent in the previous session on hopes that the U.S.-Iran war could end soon.
Brent crude futures rose 1.2 percent to $95.79 a barrel after plummeting nearly 9 percent in the previous session to hit a two-month low. WTI crude futures edged up 0.23 percent to $88.32 a barrel.
While Democrats' sweeping victory in the U.S. midterm elections helped strip the risk premium out of crude, traders are weighing the risk of a further escalation of the U.S.-Israeli war with Iran.
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