WTI crude oil futures climbed to around $94 per barrel on Thursday, extending gains for a fourth straight session as tensions between the US and Iran persisted after failed peace talks, with both sides locked in a struggle over the Strait of Hormuz. President Donald Trump said the April 7 truce would remain in place while the US awaits a new proposal, though Iran signaled no immediate plans to negotiate. US forces reported intercepting Iranian tankers attempting to bypass a blockade, while Tehran reinforced its control over the strait by targeting vessels and diverting some into its waters, leaving traffic near a standstill. The conflict has disrupted flows from key Gulf producers, tightening global supply. Despite the standoff, US export demand has surged, supported by falling domestic fuel inventories, as markets rely on American supplies to offset Middle East disruptions.
