Crude oil futures end higher on Thursday
U.S. President Donald Trump announced a 10-day ceasefire between Israel and Lebanon
Crude oil futures ended higher on Thursday on sustaining concerns over supply disruptions as Strait of Hormuz continues to remain effectively closed due to a dual blockade imposed by the U.S. and Iran. Meanwhile, U.S. President Donald Trump announced a 10-day ceasefire between Israel and Lebanon, which was confirmed by Israeli Prime Minister Benjamin Netanyahu.
Benchmark crude oil futures for May delivery increased by $3.40 or 3.72% to settle at $94.69 a barrel on the New York Mercantile Exchange. Brent crude for June delivery jumped by $04.46 or 4.70% to settle at $99.39 a barrel on London's Intercontinental Exchange.
