Heightened concerns about any chance for peace between the U.S. and Iran sent crude oil prices rising 4% on Thursday as they settled well above $100 a barrel.
The jump in prices came after President Trump gave orders to “shoot to kill” on small Iranian navy minelayers in the Strait of Hormuz and after Israel reported one of Iran’s top negotiators had resigned.
The Strait is still closed as the US and Iran are at an impasse. Trump says before any major peace deal can be signed, the Strait must be opened by Iran.
Brent crude rose more than $4 or 3.4% to close at $105.35 a barrel.
West Texas Intermediate went up just under $4 or 3.6% to finish at $96.33 a barrel on the New York Mercantile Exchange.
Natural gas prices finished down $0.132 or 4.85% at $2.590 MMBtu.
Thursday was another day of gains for most Oklahoma energy stocks as only a handful of firms recorded losses. Matrix Service finished up a strong 4% while Helmerich & Payne and OGE had 3% finishes.