LONDON (ShareCast) - Crude prices perked up on Thursday as traders took the opportunity to buy following the recent heavy sell-off.

Light, sweet crude for September delivery settled up $1.05 to $125.49 a barrel after oil prices slumped by around $20 in the last seven days.

Iran has again warned that it may block an important export channel if attacked by the US.

Supply fears in Nigeria also re-emerged after a militant group warned on Wednesday that it will attack more oil installations.

Gold finished almost flat, down 10 cents to $922.70 an ounce.

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