2026.04.2313:34:51UTC+00WTI Crude Rises for 4th Session

WTI crude oil futures rose to around $94 per barrel on Thursday, advancing for a fourth consecutive session as tensions between the United States and Iran persisted following failed peace talks and an ongoing standoff over the Strait of Hormuz. President Donald Trump stated that the April 7 truce would remain in effect while Washington waits for a new proposal, although Iran has indicated no immediate intention to return to negotiations.

US forces reported intercepting Iranian tankers attempting to circumvent a blockade, while Tehran tightened its grip on the strait by targeting vessels and diverting some into its territorial waters, bringing traffic in the area close to a halt. The confrontation has disrupted shipments from major Gulf producers, further tightening global crude supply.

At the same time, US export demand has strengthened, supported by falling domestic fuel inventories, as global markets increasingly turn to American barrels to help offset supply disruptions in the Middle East.