Washington, April 3 -- Oil markets surged on Thursday as the West Asia war intensified, with energy prices jumping to massive highs after US President Donald Trump signalled that he would continue mounting sustained military pressure against Iran, giving no clarity on reopening the Strait of Hormuz.
Brent crude rose USD 7.87 (7.78 per cent) to settle at USD 109.03 per barrel, while US West Texas Intermediate (WTI) climbed USD 11.42 ( 11.41 pc) to USD 111.54 -- its largest single-day gain in absolute terms since 2020.
Despite the spike, both benchmarks remain below the near-USD 120 levels seen earlier in the conflict, reports Bloomberg.
The rally followed Trump's indication that US strikes would intensify in the coming weeks, reinforcing ...