Baghdad:Oil prices rose on Thursday, driven by escalating security tensions in the region. Brent crude futures climbed $1.29, or 1.2%, to $110.11 a barrel, while U.S. West Texas Intermediate crude rose 97 cents, or 1%, to $98.12 a barrel.

According to National Iraqi News Agency, Brent crude had closed virtually unchanged on Wednesday, while West Texas Intermediate had fallen 67 cents.