Moscow: Global oil prices surged by more than 9% on Thursday, with Brent crude exceeding $100 a barrel, according to trading data. By 6:26 AM Moscow time, the price of May futures contracts for Brent crude had risen by 9.42% compared to the previous session's close, reaching $100.64 a barrel. According to Yemen News Agency, April futures contracts for West Texas Intermediate (WTI) crude also rose by 9.26%, reaching $95.33 a barrel. It is worth noting that oil prices had jumped to nearly $120 a barrel in London earlier this week, as flows through the Strait of Hormuz in the Arabian Gulf were effectively halted. The US-Israeli aggression against Iran effectively stopped shipping through the Strait of Hormuz, a key route for supplying the global market with oil and liquefied natural gas from the Gulf states.
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