Washington/Tehran, April 24 -- Oil prices surged on Friday as stock markets struggled amid uneasiness among investors, who have been growing more cautious by the minute due to the lack of any concrete progress in resolving the conflict that has gripped West Asia.
Amid declining investor confidence, crude prices climbed back sharply over the past week - up roughly 20% - undoing the brief respite that came at the start of the ceasefire, and reversing all prior losses that had been driven by hopes of a breakthrough in talks between Washington and Tehran.
Both Brent and WTI added more than 1% on Friday, building on gains from the previous session, as the Strait of Hormuz remained effectively closed and the US blockade of Iranian ports stayed ...