Crude oil futures ended higher on Thursday on concern about an escalation of the conflict in the Middle East that could prolong the Strait of Hormuz closure, worsening energy disruptions. Investors awaited Iran's next move on the extension of the ceasefire by the U.S. in the gulf war and calls for peace talks. Meanwhile, US President Donald Trump said that he has ordered the Navy to ‘shoot and kill any boat’ laying mines along the strait.
Benchmark crude oil futures for June delivery rose by $2.89 or 3.11% to settle at $95.85 a barrel on the New York Mercantile Exchange. Brent crude for June delivery surged by $3.16 or 3.10% to settle at $105.07 a barrel on London's Intercontinental Exchange.
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