00:00U.S. oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday in volatile
00:06trading
00:06as traders worried about prolonged disruptions to oil supply the day after President Donald Trump said
00:12the United States would continue attacks on Iran.
00:15Brent crude futures closed $7.87 or 7.78%, higher at $109.03 a barrel.
00:26Trump said military operations would be intensified but did not for ending hostilities.
00:31He gave no details on any steps that could lead to a reopening of the Strait of Hormuz.
00:36Iran has effectively shut down the narrow waterway through which a feeb of global oil and liquefied natural gas is
00:42shaped
00:43in retaliation for U.S.-Israeli strikes that began on February 28.
00:47Reopening it has become a priority for governments around the world as energy prices soar.
00:52OPEC Plus, meanwhile, is likely to weigh a further oil output increase on Sunday, sources said.
00:58And this would position members to add more barrels should the Strait of Hormuz reopen
01:02but is not likely to meaningfully increase supply before then.
01:06And this would position members of the Strait of Hormuz
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