BENGALURU: Oil prices rose for a fourth day on Tuesday, with Brent crude poised for its largest monthly gain on record and U.S. crude futures set for their strongest monthly increase since 2020, because of supply constraints from the widening Middle East war. Brent crude futures for May rose $2.26, or 2%, to $115.04 a barrel at 0002 GMT, after reaching their highest since March 19 during the prior session. U.S. West Texas Intermediate futures for May climbed $3.10, or 3%, to $105.96 a barrel, its highest since March 9. This 'twin chokepoint' crisis is a nightmare scenario for global supply chains," said Tim Waterer, chief market analyst at KCM Trade. U.S. President Donald Trump warned on Monday that the U.S. would "obliterate" Iran's energy plants and oil wells if Tehran does not reopen the Strait of Hormuz.

Source: The Star March 31, 2026 03:00 UTC