Brent Oil Climbs Amid Gulf Conflict Fears, Wall Street & European Stocks Gain

• Benchmark oil prices rose as European stocks and a major Wall Street index advanced, despite global growth concerns.
• Investors are worried about a five-week-old Gulf conflict, fearing inflation and recession risks.
• Trump warned Iran to open the Strait of Hormuz or face U.S. attacks on oil wells; Powell stated the Fed would monitor the war's economic impact.
• Germany's inflation accelerated in March due to surging energy prices; Brent crude reached $113.17/barrel, U.S. crude hit $103.04.
• The Strait of Hormuz closure, a conduit for a fifth of global oil, has driven up prices for various commodities, with a prolonged closure potentially pushing oil to $150/barrel.