International Oil Prices Top 108 Dollars per Barrel

[The Financial News]

International oil prices surged again on the 26th (local time).
United States of America (USA) President Donald Trump ratcheted up pressure on the Islamic Republic of Iran, while saying at a Cabinet meeting that the current market shock was not as severe as he had expected, which helped push prices higher.
His remarks suggested that, based on the judgment that the US market can withstand this shock, Washington could press the Islamic Republic of Iran even harder.
Brent Crude Oil, the benchmark for international oil prices, jumped 5.79 dollars, or 5.66%, from the previous session for May delivery to close at 108.01 dollars per barrel.
West Texas Intermediate crude oil (WTI), the benchmark US grade, also soared for May delivery, rising 4.16 dollars, or 4.61%, to finish at 94.48 dollars per barrel.
Aiming at the Islamic Republic of Iran, which has refused direct talks, President Trump warned, "It would be better for them to get serious before it's too late," pressing for negotiations. He also commented that recent international oil prices "have not risen as much as I thought they would," signaling he has no intention of stepping back to bring prices down.
After the war with the Islamic Republic of Iran, WTI has also climbed sharply, but its gains have been smaller than those of Brent Crude Oil.
Since the war with the Islamic Republic of Iran began on the 28th of last month, Brent Crude Oil has skyrocketed 30.8%, while WTI has risen 20.7%. Brent Crude Oil even spiked intraday to 119.50 dollars per barrel on the 9th.

dympna@fnnews.com Song Kyung-jae Reporter