Extending the gains from yesterday, crude oil has surged on Thursday as concerns of supply disruptions continue despite upcoming peace talks between the U.S. and Iran to end the month-long gulf war.
WTI Crude Oil for May month delivery was last seen trading up by $3.45 (or 3.78%) at $94.74 per barrel.
In the conflict between the U.S., Israel and Iran that started on February 28, a two-week ceasefire was agreed by both nations last week which ends on April 22.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.