Brent crude futures rose 4.5% to $99.21 per barrel, while WTI gained 3.4% to $94.40 amid ongoing US‑Iran tensions.
US Central Command reported a three‑day blockade of Iranian ports, turning away 14 vessels and warning of possible force.
President Trump announced a 10‑day Israel‑Lebanon ceasefire and said Iran is close to a nuclear‑free deal, boosting market optimism.
China's Q1 2026 GDP grew 5% YoY, supporting oil‑demand outlook despite broader economic slowdown concerns.