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New York, April 10 (QNA) – Global oil prices closed higher on Thursday amid growing concerns over possible disruptions to shipping through the Strait of Hormuz.
Brent crude futures rose by $1.17, or 1.23%, settling at $95.92 per barrel.
US West Texas Intermediate (WTI) crude also climbed sharply, gaining $3.46, or 3.66%, to settle at $97.87 per barrel.
Market analysts said the increase reflects heightened uncertainty over energy supply routes, particularly in the wake of concerns about potential instability in the strategically important waterway, which is a key artery for global oil shipments. (QNA)
