Oil up over 1% as Mideast uncertainty keeps market jittery

Oil rose more than 1% on Wednesday, with Brent futures extending gains after a record monthly rise in March, as Middle East volatility kept markets jittery despite reports that the US-Israeli war on Iran may be nearing an end. The front-month Brent contract for June climbed $1.40, or 1.4%, to $105.37 per barrel at0430 GMT. Brent logged a record monthly gain of 64% in March, according to LSEG data that dates back to June 1988. Meanwhile, US West Texas Intermediate (WTI) crude futures for May rose $1.59, or 1.6%, to $102.97 per barrel. Prices recovered some of their losses from Tuesday, when Brent futures for June delivery settled down more than $3 following unconfirmed media reports that Iran’s president was ready to end the war.