en.Wedoany.com Reported - International oil prices surged sharply on Thursday, with the New York crude oil futures price once rising over 13%. As of the market close, the May delivery light sweet crude oil futures price on the New York Mercantile Exchange settled at $111.54 per barrel, up 11.41%; the June delivery London Brent crude oil futures price settled at $109.03 per barrel, up 7.78%.

JPMorgan: If the Strait of Hormuz Remains Closed, Oil Prices Could Rise Above $150

JPMorgan stated that oil prices could climb to between $120 and $130 per barrel in the short term, adding that if the Strait of Hormuz remains closed until mid-May, oil prices could rise above $150.

Mixed Performance for the Three Major U.S. Stock Indices on the 2nd

In the U.S. stock market, investors closely watched news related to the Middle East situation. At the close, the three major indices showed mixed performance: the Dow Jones Industrial Average fell 0.13%, the S&P 500 Index rose 0.11%, and the Nasdaq Composite Index rose 0.18%.

Divergent Trends for the Three Major European Stock Indices on the 2nd

If oil prices remain high in the future, they will continue to exert pressure on corporate costs, consumer spending, and inflation trends. The three major European stock indices closed with divergent trends on Thursday: the UK's FTSE 100 Index rose 0.69% from the previous trading day, France's CAC 40 Index fell 0.24%, and Germany's DAX Index fell 0.56%.

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