Crude Oil Surges on Repricing War Premium

Crude Oil has staged a one-day advance, rising almost 6% to trade just above $91.00 on the WTI benchmark and testing the $95.00 area for Brent.

The move comes despite fresh Iranian threats and a 'head-for-an-eye' doctrine from Washington's top diplomat, but unlike previous war headlines, the futures market is not reacting reflexively.

WTI has printed higher lows throughout the session, climbing from $86.50 to just above $91.00, while Brent has followed a similar path from $90.50 to test $95.00.