Oil rises as investors remain wary US-Iran ceasefire will open supply flow

Oil prices surged on Thursday. Investors worry about Middle East supply not fully resuming. Doubts linger about a U.S.-Iran ceasefire holding. The vital Strait of Hormuz remains restricted. Brent crude and WTI crude futures saw significant increases. This follows a previous session's decline on ceasefire hopes. Shippers await clarity before resuming transit. Regional oil facilities also face ongoing threats.