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Crude oil futures end higher on Thursday

17 Apr 2026 Evaluate

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.