Crude oil prices continued to grow on Thursday, rising by more than 5% after United States President Donald Trump said that his country may not be “willing” to make a deal with Iran anymore, even though they are “begging” for one. He also noted that Washington has other targets it wants to hit in Iran “before leaving,” and that seizing the Middle Eastern country’s oil is “an option.” The US president’s comments followed reports that Iran sent their official response to the American 15-point peace plan to Washington through intermediaries, and that Tehran views Trump’s five-day deadline for reaching a deal as “a new Trump deception.”
West Texas Intermediate (WTI) for May’s deliveries jumped by 5.4% to go for $95.20 per barrel at 12:33 pm ET. Meanwhile, Brent for the same month’s settlements soared by 6.51% and went for $108.87 per barrel at 12:33 pm ET.