By Laura Sanicola (Reuters) – Oil prices rose on Thursday, reversing earlier losses, as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars. Brent crude rose 46 cents, or 0.4%, to $107.97 a barrel by 11:44 a.m. EDT (1544 GMT). WTI crude rose $1.14, or 1.1 %, to $106.85. “The trading has been thin and nobody knows what’s going to move the needle,” said John Kilduff, partner at Again Capital LLC in New York. A pending European Union ban on oil from Russia, a key supplier of crude and fuels to the bloc, is anti…