Khaberni - Oil prices jumped more than $4 on Thursday, after President Donald Trump declared that the United States would continue its strikes on Iran, including energy and oil targets in the upcoming weeks, without committing to a specific timetable to end the war.
Brent crude futures increased by $4.88 or 4.8% to $106.04 per barrel by 02:00 GMT. West Texas Intermediate (WTI) futures rose by $4.17 or 4.2% to $104.29 per barrel.
These rises came after both benchmarks fell more than $1 earlier on Thursday, prior to Trump's speech, and had settled lower in the previous session.
In a televised national address, Trump said the American military is nearing the completion of its objectives in the Iran war and that the conflict would end soon, but he did not set a timeline for it.
He mentioned, "We will accomplish the mission, and we will do it very quickly. We are very close to it."
The head of the International Energy Agency warned on Wednesday that supply disruptions will begin to impact the European economy in April.
