US crude futures rise 41 cents to $105.50/bbl after prior intraday high of $110.93/bbl

MELBOURNE, May 1 : U.S. West Texas Intermediate crude rose 41 cents or 0.43 per cent on open to $105.50 a barrel, after a prior intraday Thursday high of $110.93 a barrel after uncertainty on the direction of the U.S. war against Iran persisted.

WTI closed down $1.81, or 1.69 per cent, at $105.07, but earlier reached its highest point since April 7.

It is on track for its fourth month of gains, alongside benchmark Brent, reflecting fears the Iran conflict could choke global oil supplies for months to come.