Oil prices were higher today on concerns of a broadening mid-east conflict after the proposed ceasefire between Israel and Hamas was rejected. “The market is holding its breath on what the next potential fallout could be,” said John Kilduff, partner with Again Capital LLC. Attacks on shipping by Iranian-backed Houthi rebels continued to disrupt global oil trading, he added. In the U.S., a stronger than expected drawdown in gasoline and middle-distillate stocks also buoyed the oil market. Demand growth remains healthy in large oil-consuming nations, including India and the U.S., said Giovanni Staunovo, analyst at UBS. WTI traded up $2.36 or 3.2% to close at $76.22. Brent traded up $2.42 or 3% to close at $81.36.