Oil Prices Today: Brent, WTI Rebound as Fragile Iran Ceasefire Leaves Hormuz Choked
Oil prices bounced Thursday, recouping some ground after the previous day’s dramatic slide, as traders zeroed in on persistent tensions in the Strait of Hormuz—even with a two-week ceasefire between the U.S. and Iran in place. Brent crude climbed 90 cents, or 1%, trading at $95.65 a barrel, while U.S. West Texas Intermediate surged $3, or 3.2%, to $97.39 by 12:58 p.m. ET. Both benchmarks had earlier spiked past $99 and $102.
