Oil Up 4% On Uncertain Iran-US Ceasefire Prospects
A graphic illustration of barrels of crude oil Oil prices jumped four per cent Thursday after Iran vowed not to reopen the Strait of Hormuz so long as a US naval blockade remained in place despite a ceasefire extension. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569656851-0"); }); At around 0025 GMT, the benchmark US oil contract West Texas Intermediate (WTI) climbed 4.06 per cent to $96.73 per barrel. International oil benchmark Brent North Sea crude rose 3.62 per cent to $105.63. Both eased back in the following minutes. Oil prices have soared since Israel and the United States attacked Iran on February 28, and they have kept inching up due to the uncertainty over whether war will resume. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569913499-0"); }); Iranians rally during a memorial, 40 days after a deadly strike on a children’s school in the southern city of Minab on the first day of the war that killed at least 165 people, most of them children, in Tehran on April 7, 2026. On February 28, Israel and the United States launched strikes on Iran, killing its supreme leader and triggering a war that spread across the Middle East. (Photo by AFP) / READ ALSO: Stocks Sink With Iran, US No Closer To Peace Talks As the clock ticked for a return to the war that has engulfed the region, US President Donald Trump had said Tuesday he would maintain the truce to allow more time for Pakistani-brokered peace talks. Iran said it welcomed the efforts by Pakistan but made no other comment on Trump’s announcement. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587799169-0"); }); AFP Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587060870-0"); }); Join Our Whatsapp Channel To join: Simply click on the link below & turn on notifications to get the latest updates Subscribe to Our Newsletter In This Article: Iran Israel OIL us War More Stories Iran Seizes Two Ships Seeking To Cross Strait Of Hormuz Oil Prices Rise Despite US-Iran Ceasefire Extension Ships Attacked In Strait Of Hormuz As Trump Extends Iran Ceasefire /* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * / var disqus_shortname = 'channelstelevision'; // Required - Replace example with your forum shortname / * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus.
SOURCE: https://www.channelstv.com/2026/04/23/oil-up-4-on-uncertain-iran-us-ceasefire-prospects/