Oil prices extended their gains on Thursday, rising more than $1 in the wake of stalled peace talks between Iran and the U.S. and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz.
Brent crude futures rose $1.26, or 1.2 %, to $103.17 a barrel at 09:30 a.m. Saudi time, after settling above $100 for the first time in more than two weeks on Wednesday.
WTI futures were also up $1.20, or 1.3%, at $94.16.
Earlier, the price of the Brent crude futures with June delivery has exceeded $106 per barrel for the first time since April 7, 2026, according to the London ICE exchange.
As of 03:16 a.m. Moscow time (12:16 a.m. GMT), Brent rose by 4.16% to $106.15 per barrel.
By 7:00 a.m. Moscow time (4:00 a.m. GMT), the growth slowed down to $103.42 per barrel (+1.48%).
