Oil up over 1% as Mideast uncertainty keeps market jittery
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
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
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
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Oil up over 1% as Mideast uncertainty keeps market jittery
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