Crude-oil futures went over $96 per barrel on Thursday as tension in the Middle East is sure to rise after the assassination of former Pakistani Prime Minister Benazir Bhutto.
A decline in U.S. crude inventories is also expected for a sixth consecutive week.

Although Pakistan is not an oil exporter, energy traders are worried about the increased tension triggered by the assassination in the key oil-producing region.

Crude for February delivery advanced 68 cents at $96.65 a barrel on the New York Mercantile Exchange.

The crude-oil futures increase followed the media repots that former Pakistan Prime Minister Benazir Bhutto was killed in a suicide attack on a political rally. The bomber took with him least 14 other people who were participating at the rally.

Bhutto’s death was confirmed by a senior military official, who spoke on condition of anonymity.

"This is very sad news which reminds us that Pakistan is a dangerous place," said Phil Flynn, an analyst at Alaron Trading, for Market Watch.

Another main element for the markets on Thursday will be the petroleum inventories data which will be released by the Energy Department and the American Petroleum Institute at 10:30 a.m. Eastern.

On Wednesday, crude futures closed up 2%, adding $1.84 a barrel on the New York Mercantile Exchange.

Oil prices rose 57 percent since January 2007 and reached a record high of $99.29 on Nov. 21, increased by concerns over shrinking supplies ahead of winter and the weak dollar.