Crude oil prices are extending the rally seen in recent days, with U.S. crude oil futures moving higher for the sixth consecutive session on Thursday.
After coming under pressure overnight, crude for November delivery has surged $2.95 or 3.1 percent to $98.04 a barrel, reaching its highest level in a month.
Elevated supply concerns continue to drive prices higher after two commercial vessels were struck by unidentified projectiles while passing through the Strait of Hormuz on October 13 and 14, as reported by the Maritime and Port Authority of Singapore.
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Market Analysis
Crude Oil Prices Extending Recent Surge, Reach Highest Level In A Month
2026-10-15 19:01:11
