Crude prices surged Thursday, rebounding from a bruising prior session after reports that two oil tankers had been attacked in the Gulf of Oman, with fresh tensions in that region potentially posing a threat to global supplies.
West Texas Intermediate crude for July delivery jumped $1.36, or 2.7%, to $52.53 a barrel, but rose to as high as $53.11 a barrel. Gains were in contrast to a 4% drop that took oil prices down to $51.14 on Wednesday, marking the lowest front-month contract finish since Jan. 14, according to Dow Jones Market Data.
August Brent crude jumped $2.18, or 3.6%, to $62.13 a barrel, but gained as much as 4% as reports of the tanker attacks surfaced. The prior session saw Brent tumble 3.7% to $59.97 a barrel, the lowest front-month finish since Jan. 28.
Source : MarketWatch