Vehicles line up to refuel at the Namseling gas station in Thimphu, on April 7, 2026, in the Himalayan kingdom of Bhutan. (Credit: Upasana Dahal/AFP)
The price of U.S. crude oil climbed back above $100 a barrel on Thursday due to doubts over the stability of the cease-fire between Iran and the United States, and as the Strait of Hormuz remains largely paralyzed.
After plunging Wednesday to close the session at $94.41, the price of West Texas Intermediate (WTI) crude for May delivery rebounded 5.83% to $99.91 around 1:05 p.m. GMT on Thursday, after briefly topping the $100 mark. Brent crude from the North Sea for June delivery rose 3.67% to $98.23.
The price of U.S. crude oil climbed back above $100 a barrel on Thursday due to doubts over the stability of the cease-fire between Iran and the United States, and as the Strait of Hormuz remains largely paralyzed.
After plunging Wednesday to close the session at $94.41, the price of West Texas Intermediate (WTI) crude for May delivery rebounded 5.83% to $99.91 around 1:05 p.m. GMT on Thursday, after briefly topping the $100 mark. Brent crude from the North Sea for June delivery rose 3.67% to $98.23.
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