Oil prices rose on Thursday as the prospect of a widening Middle East conflict that could disrupt crude oil flows from the key exporting region overshadowed a stronger global supply outlook.

Brent crude futures were up 94 cents, or 1.27%, to $74.84 a barrel at 0615 GMT. U.S. West Texas Intermediate crude futures were up 99 cents, or 1.41%, to $71.09.