India, April 17 -- Crude oil futures moved sharply higher during trading on Thursday, extending the strong upward move seen in the previous session.
After jumping $1.14 or 1.9 percent to $62.47 a barrel, crude for May delivery spiked $2.21 or 3.5 percent to $64.68 a barrel.
The continued surge by the price of crude oil came amid ongoing concerns about Iranian oil exports after Treasury Secretary Scott Bessent said the U.S will continue to apply pressure on Iran after imposing new sanctions on Chinese importers of Iranian crude oil on Wednesday.
"We will apply maximum pressure on Iran and disrupt the regime's oil supply chain and exports, which support terrorist proxies and partners," Bessent posted on X. "Any refinery, company, or broker...