After a four-day decline, crude oil prices rise.

• According to Rystad Energy, while oil prices have decreased due to geopolitical tensions, there is still a possibility of supply disruption in the Middle East.

On Thursday, crude oil futures experienced a slight increase, ending a four-day losing streak. This was due to the easing of fears about a supply disruption in the Middle East and the anticipation of a surplus in the market next year.

Rystad Energy's Middle East research director, Aditya Saraswat, stated that although Israel has refrained from responding to Iran's actions, the situation could shift suddenly, prompting a change in Israel's response.

A regional war between Iran and Israel could have a significant impact on gas exports and oil development projects, according to a note by Saraswat on Thursday.

Here are Thursday's energy prices:

• Nearly 2% of U.S. crude oil has fallen year to date, with the November contract priced at $70.40 per barrel, a 1 cent increase or 0.01% rise.
• The global benchmark has decreased more than 3% year to date, with December's contract price being $74.24 per barrel, an increase of 2 cents or 0.03%.
• The price of gasoline in November was $2.0358 per gallon, which represents a 0.22% decrease compared to the previous month. To date in the year, gasoline prices have fallen by more than 3%.
• The November contract price for gas is $2.374 per thousand cubic feet, representing a 0.3% increase. Despite this, year-to-date gas consumption has decreased by more than 5%.

According to reports, Israel has informed the U.S. that it will not attack Iran's oil facilities in response to the Islamic Republic's October 1 ballistic missile attack. The oil market experienced a significant decline on Tuesday due to news that Israel would only target military facilities in Iran.

A full-blown war could lead to Iran choking the Strait of Hormuz, jeopardizing 12 million bpd of oil and "driving up prices sharply," the analyst said. However, an attack on oil facilities could disrupt only 1.4 million bpd of Iran's production, Saraswat said.