LONDON—Oil prices gained ground on Thursday as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks.
Brent crude futures rose 57 cents, or 0.72 percent, to $79.78 a barrel by 1043 GMT. U.S. West Texas Intermediate crude futures were up 47 cents, or 0.64 percent, at $74.33.
