April 03, New Delhi: Global oil markets are experiencing intense price fluctuations due to the ongoing conflict in the Middle East. Brent crude, the international benchmark, rose by 7.8% to $109.03 per barrel, briefly exceeding the $111 mark.
Meanwhile, WTI crude oil futures for near-term delivery next month saw their largest-ever premium over second-month contracts, climbing by 11.41% to $111.54. Prices initially fell as traders awaited U.S. President Donald Trump's national address, but rebounded after his comments failed to alleviate concerns about the Strait of Hormuz.
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