West Texas Intermediate (WTI) crude surged more than 10% while Brent crude jumped nearly 8% on Thursday following US President Donald Trump's threat to escalate the war with Iran.
International benchmark Brent crude futures traded at $108.9 per barrel at 3.33 p.m. local time (1233 GMT), up around 7.6% from the previous close of $101.16.
US benchmark West Texas Intermediate (WTI) increased about 10.1% to $110.31 per barrel, compared with $100.12 in the previous session.
Trump said late Wednesday that the US is "nearing completion" of its military objectives in Iran but warned that the US will "hit them extremely hard over the next two to three weeks."
"We're going to bring them back to the Stone Ages, where they belong," he said.
Regional tensions have escalated since Feb. 28, when the US and Israel launched coordinated strikes on Iran. Iran has retaliated with drone and missile strikes targeting Israel and Gulf countries that are home to US military assets.
Meanwhile, Saudi Arabia, the United Arab Emirates, and Bahrain reported new attacks from Iran on Thursday, with air defenses intercepting dozens of missiles and drones as regional escalation continues to expand.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr
