Ammon News - Oil rose more than 1% on Wednesday, with Brent ‌futures extending gains after a record monthly rise in March, as Middle East volatility kept markets jittery despite reports that the U.S.-Israeli war on Iran may be nearing an end.

The front-month Brent contract for June climbed $1.40, or 1.4%, to $105.37 per barrel at 0430 GMT. Brent logged a record monthly gain of 64% ​in March, according to LSEG data that dates back to June 1988.

Meanwhile, U.S. West Texas Intermediate (WTI) crude futures ​for May rose $1.59, or 1.6%, to $102.97 per barrel.

Prices recovered some of their losses from Tuesday, ⁠when Brent futures for June delivery settled down more than $3 following unconfirmed media reports that Iran's president was ready to ​end the war.

President Donald Trump told reporters on Tuesday that the U.S. could end the military campaign within two ​to three weeks and that Iran does not have to make a deal to end the conflict, his clearest declaration yet that he wants to wind down the month-long war.

Reuters