Oil prices rise more than 3%

CAPITALS, (UrduPoint / Pakistan Point News / WAM - 11th May, 2026) Oil prices surged at the opening of trading today shortly after US President Donald Trump announced his rejection of Tehran’s response to the proposal presented by Washington to end the war.

Brent crude futures rose by US$3.21, or 3.17 percent, to reach $104.50 per barrel, while US West Texas Intermediate crude gained $3.06, or 3.21 percent, to $98.48 per barrel.