WTI Crude Rises for 4th Session

2026-04-23 13:34 By Agna Gabriel 1 min. read

WTI crude futures climbed to around $94 per barrel on Thursday, extending gains for a 4th consecutive session as tensions between the US and Iran persisted, with both sides locked in a standoff over the Strait of Hormuz.

US President Trump ordered the US Navy to target any vessels laying mines in the Strait and pledged to intensify efforts to secure the waterway.

Earlier, he extended the ceasefire indefinitely while awaiting a new proposal, even as the blockade remained in place.

Iran however, signaled no immediate willingness to negotiate under ongoing US naval restrictions on its ports.

The blockade has led the US to intercept Iranian tankers, while Tehran has reinforced its control over the Strait.

The conflict has disrupted flows from Gulf producers, tightening global supply.

Despite the standoff, demand for US exports has strengthened, supported by declining domestic fuel inventories, as global markets increasingly rely on American supply to offset disruptions in the Middle East.



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WTI Crude Rises for 4th Session
WTI crude futures climbed to around $94 per barrel on Thursday, extending gains for a 4th consecutive session as tensions between the US and Iran persisted, with both sides locked in a standoff over the Strait of Hormuz. US President Trump ordered the US Navy to target any vessels laying mines in the Strait and pledged to intensify efforts to secure the waterway. Earlier, he extended the ceasefire indefinitely while awaiting a new proposal, even as the blockade remained in place. Iran however, signaled no immediate willingness to negotiate under ongoing US naval restrictions on its ports. The blockade has led the US to intercept Iranian tankers, while Tehran has reinforced its control over the Strait. The conflict has disrupted flows from Gulf producers, tightening global supply. Despite the standoff, demand for US exports has strengthened, supported by declining domestic fuel inventories, as global markets increasingly rely on American supply to offset disruptions in the Middle East.
2026-04-23
Crude Oil WTI is up by 4.02%
Crude Oil WTI increased 4.02% to 96.694 USD/Bbl
2026-04-23
Oil Gains for Fourth Straight Session
WTI crude futures climbed above $94 per barrel on Thursday, rising for the fourth straight session as diplomatic efforts between the US and Iran showed little progress and reports indicated that the US intercepted at least three Iranian oil tankers in Asian waters. Tehran also continues to assert control over the Strait of Hormuz, restricting nearly all international traffic and reportedly firing on commercial vessels this week. At the same time, the US has sustained its blockade of Iranian ports to intensify pressure on the Islamic Republic. Meanwhile, President Donald Trump stated that the current ceasefire would remain in place indefinitely as Washington awaits a revised peace proposal from Iran, although Tehran has indicated it does not intend to engage in talks in the near term. On the supply side, EIA data revealed declines in US inventories across key refined products, pointing to solid demand from both domestic consumption and export markets.
2026-04-22