US crude benchmark opens over $113, Brent above $110A cargo ship is pictured off coast city of Fujairah, in the Strait of Hormuz in the northern Emirate on February 25, 2026. TOKYO, Japan — Crude oil prices opened higher on Monday, with US benchmark West Texas Intermediate up 1.86% to $113.62 a barrel, as the war in the Middle East continues to squeeze global energy supplies. North Sea Brent crude was also higher at the week's market opening, climbing 1.16% to $110.30 a barrel. "Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. Iran has virtually blocked the Strait of Hormuz, through which about 20% of the world's oil and gas transits, sending petroleum prices skyrocketing.

Source: Philippine Star April 06, 2026 02:35 UTC