Crude prices continued to climb on Wednesday after Iran claimed to have seized two vessels in the Strait of Hormuz, escalating Middle East tensions.
The attacks came even as the US extended its ceasefire deal with Iran, leaving the fate of negotiations uncertain. Tehran has linked future talks to Washington lifting its port blockade.
West Texas Intermediate (WTI) for June's settlements jumped by 3.48% at 11:37 am ET to sell for $92.79 per barrel. Meanwhile, Brent for June's deliveries increased by 3.34% to $101.77 per barrel.
https://breakingthenews.net/Article/Oil-jumps-3-on-Hormuz-ship-seizures/66125744
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