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Crude oil futures end higher on Thursday

10 Apr 2026 Evaluate

Crude oil futures ended higher on Thursday as Iran allowed only restricted naval traffic through the Strait of Hormuz, renewing fears of energy supply disruptions. Further, Israel's bombardment of Lebanon kept Middle East tensions alive. However, oil prices pulled back from session highs after report said Israel would begin negotiations with Lebanon as soon as possible, aimed at disarming Hezbollah and reaching a full peace agreement between the countries.

Benchmark crude oil futures for May delivery rose by $3.46 or 3.66% to settle at $97.87 a barrel on the New York Mercantile Exchange. Brent crude for June delivery increased by $1.17 or 1.23% to settle at $95.92 a barrel on London's Intercontinental Exchange.

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