Oil prices rebounded Thursday morning, with Brent crude trading back above $100 after the White House said it was awaiting a response from Iran to move forward with potential seco

Oil prices were marginally lower Thursday amid stalled peace talks between Iran and the United States, and continued restrictions through the Strait of Hormuz.

Oil prices continued to rise on Thursday while stocks pulled back as investors wrestled with uncertainty about the fragile cease-fire between the United States and Iran. The prospects for a lasting end in fighting are being tested as the two countries jostle to exert control over the Strait of Hormuz,

June WTI crude oil (CLM26 ) today is up +0.44 (+0.47%), and June RBOB gasoline (RBM26 ) is up +0.0093 (+0.29%). Crude oil and gasoline prices are moving higher today, with gasoline climbing to a 3.75-year high.

Crude prices have skyrocketed this year due to the war with Iran. WTI, the primary U.S. oil price benchmark, has soared more than 60% to around $93 a barrel. Higher crude prices are enabling oil producers to generate an unexpected profit gusher this year.

Oil rose in early trade amid the ongoing closure of the Strait of Hormuz. “The closure of the Strait of Hormuz remains the decisive factor,” Commerzbank Research said.

By Georgina McCartney HOUSTON, April 22 (Reuters) - Oil prices settled up by more than $3 on Wednesday after a surprise gasoline and distillate stock draw in the U.S., and on reports of gunfire attacks on at least three container ships in the Strait of Hormuz amid a lack of progress in peace talks between the U.

Will oil prices go up? Oil prices are inherently unpredictable. While many variables come into play, the basic push and pull of supply and demand is what ultimately matters. In times of heightened concern about recession,

Oil prices rebounded Thursday morning, with Brent crude (BZ=F) trading back above $100 after the White House said it was awaiting a response from Iran to move forward with potential second-round peace talks.

Crude oil futures spiked US$5 a barrel on Thursday after reports that air defenses were engaging targets over Tehran and of a power struggle between Iran's hardliners and moderates.

Phillips 66 has shipped crude oil from Texas to the U.S. East Coast on a foreign-flagged tanker, the first such cargo since Washington waived the Jones Act last month, Kpler ship-tracking data shows.