US crude oil futures rise over $2 as widening Middle East conflict raises supply concerns

ReutersMar 30, 2026 10:19 PM

March 31 (Reuters) - U.S. crude futures rose more than $2 in early Asia trade on Tuesday as the Middle East conflict deepened, raising supply concerns, while U.S. President Donald Trump warned Iran over its continued blockage of the Strait of Hormuz.

U.S. West Texas Intermediate CLc1 crude gained $2.01, or 2%, to $104.94 a barrel by 2210 GMT. The contract touched its highest level since March 9 in the previous session and has surged more than 56% so far this month, on track for best month since May 2020.

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