Bannu: Oil prices rose by more than 3% on Thursday, buoyed by market momentum in late trading. Brent crude futures climbed $2.31, or 3.38%, to settle at $70.71 a barrel. US West Texas Intermediate crude also gained, rising $2.21, or 3.5%, to close at $65.42 a barrel.

According to Qatar News Agency, the increase in oil prices was influenced by various factors that contributed to the late trading surge. The market experienced a boost as traders reacted to signals that suggested a potential tightening of supply in the near future. The closing figures reflect an optimistic outlook from investors regarding the global oil market's direction.