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Singapore, April 09 (QNA) – Oil prices rose Thursday amid investor concerns that Middle East supplies may not fully resume, given doubts about the durability of the two-week ceasefire between the United States and Iran and the continued restrictions on the Strait of Hormuz.
Brent crude futures climbed $2.60, or 2.74 percent, to $97.35 a barrel, while US West Texas Intermediate (WTI) crude rose $3.02, or 3.2 percent, to $97.43 a barrel.
Both benchmark crudes fell below $100 a barrel in the previous session, with WTI recording its biggest drop since April 2020, on expectations that the ceasefire would lead to the reopening of the Strait of Hormuz. (QNA)
