Dawn Business
HOUSTON: Oil prices jumped by more than $3 on Wednesday after a surprise gasoline and distillate stock draw in the US, and prices got a further boost from reports of gunfire attacks on at least three container ships in the Strait of Hormuz and a lack of progress in peace talks between the US and Iran. Brent crude futures were up $3.32, or 3.37pc, at $101.80 a barrel at 12:50pm EDT. WTI futures were up $3.61, or 4.03pc, to $93.28. Both benchmarks climbed about 3pc on Tuesday. At the session high, US crude futures were up by more than $4 a barrel. US crude stocks rose while gasoline and distillate inventories posted surprise draws in the week ended April 17, the Energy Information Administration said. Published in Dawn, April 23rd, 2026
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