Oil gains over 3%; Brent closes above $98

Oil drilling rigs

Oil prices rose at the close of trading today, April 21, driven by statements from the US president confirming his unwillingness to extend the ceasefire with Iran, while Tehran's intentions regarding resuming negotiations remained unclear.

Brent crude futures for June delivery rose 3.14%, or $3, to $98.48 a barrel, after touching $99.95 earlier in the session.

WTI crude oil futures for May delivery (which expired today) rose 2.81% or $2.52 to $92.13 a barrel.

This came after US President Donald Trump said in media statements today that the military is ready to resume strikes against Iran if negotiations fail, expressing unwillingness to extend the ceasefire that ends tomorrow.

This escalation coincided with Pakistan's announcement that there was no official confirmation yet of the Iranian side's attendance at a new round of negotiations, while reports indicated that US Vice President JD Vance postponed his trip to Islamabad as a result.