Oil prices rise about $1 as investors weigh Middle East peace prospects
By Yuka Obayashi TOKYO, May 7 (Reuters) - Oil prices rose about $1 in early trade on Thursday, rebounding from the previous day's sharp losses, as investors weighed the prospects of a Middle East peace deal succeeding. Brent crude futures were up 88 cents, or 0.9%, at $102.15 a barrel by 0032 GMT.