Brent crude rose to $99.07 per barrel, WTI to $90.25, as Hormuz shipping disruptions persisted despite US ceasefire extension.
US API data showed crude inventories fell 4.4 million barrels in week to April 17, far exceeding the 1 million‑barrel draw forecast.
President Donald Trump announced ceasefire extension with Iran, claiming Iran loses $500 million daily from Hormuz closure and considering extending a fuel‑transport waiver.
US gasoline prices have surged about 40% since the Iran war began, heightening inflation concerns.