Crude oil price, April 29 -- The already boiling crude oil prices - trading higher for eight sessions in a row - due to the ongoing US-Iran war, received a fresh fillip from the Energy Information Administration's (EIA) latest data and reports that President Donald Trump has rejected a recent proposal from Iran to reopen the Strait.

Brent crude and US West Texas Intermediate (WTI) futures were up by over 7% on Wednesday, 29 April.

US crude rose 7.6% to $107.52 a barrel, and Brent rose to $119,54 per barrel, up 7.44% after the EIA, after the US oil stocks plummeted sharply and amid little signs of resolution to the Middle East crisis that's entered its third month now.

This marks the fourth straight month of gains for crude oil prices, ...