US-Iran war, April 1 -- Oil prices climbed nearly 2% on Wednesday, April 1, after a record monthly gain, even as optimism grew that the ongoing US-Iran war may soon come to an end following recent remarks from US President Donald Trump.

Brent crude futures rose over 1.8% to $105.8 per barrel, after declining 3.2% on Tuesday. Meanwhile, WTI crude advanced nearly 1.7% to $103 per barrel on Wednesday.

Oil prices have remained above the key $100 level for most of March, supported by the shutdown of the Strait of Hormuz, a key chokepoint which accounts for a fifth of global crude oil passage.

Back home, crude oil prices on Multi Commodity Exchange (MCX) also witnessed a similar upward movement. MCX crude oil prices opened 1.34% higher at Rs...