New Delhi, April 29 -- Following developments among OPEC members, the crude oil price witnessed buying during the early morning session on Wednesday. WTI crude oil prices regained the psychological $100/bbl level, inching close to a three-week high. The WTI crude oil price today opened flat, but soon gained momentum, reaching an intraday high of $100.36/bbl. The Brent crude oil price also hit an intraday high of $104.95/bbl, rising more than 1.25% against the intraday low of $103.68 per barrel.

According to market experts, crude oil prices are rising due to fresh uncertainty over Middle East tensions. They said that amid the ongoing US-Iran war and the disruption of the Strait of Hormuz, an important OPEC member, the UAE, has announced i...