| 02 Apr 2026 14:27 | | WTI crude oil futures surges over 6% | | | WTI crude oil futures surged over 6% to approach $107 per barrel on Thursday, as hopes of a near-term resolution to the Iran conflict dimmed sharply. In a prime-time address, Donald Trump stated that U.S. forces would “hit them extremely hard over the next two to three weeks,” signaling further escalation rather than de-escalation. This rhetoric reignited fears of prolonged supply disruption, particularly through the Strait of Hormuz, which accounts for nearly 20% of global oil flows. The geopolitical shock reversed earlier losses, with markets brushing aside bearish U.S. inventory data. US crude inventories rose by 5.5 million barrels to 461.6 million last week. | | Powered by Capital Market - Live News |
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