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Oil inches higher as Middle East tensions heat up.

Oil prices edged higher on Thursday on concerns about escalating conflict in the Middle East with more attacks on Gaza and on shipping in the Red Sea, even as a surprise build in U.S. crude stockpiles capped gains.

Brent crude futures gained 48 cents, or 0.48%, to $77.17 a barrel at 0510 GMT, while U.S. West Texas Intermediate crude futures rose 32 cents, or 0.45%, to $71.69 a barrel.