Crude oil prices increased on Thursday, with the US benchmark West Texas Intermediate (WTI) rising by more than 5%. Market participants are also evaluating the geopolitical factors related to the ceasefire between the US and Iran. The move comes after some relief in the commodity market following the announcement of a new ceasefire deal. Prices fell below $100 per barrel yesterday. However, over the last few hours, investors have shown less optimism following comments from Iranian officials about a possible fallout.
By 12:22 pm, WTI for May 2026 was up 5.45% at $99.16 a barrel, while Brent for June 2026 had gained 3.87% to $98.18.