Latest Oil Market News and Analysis for March 31

Oil Extends Advance as Iran Attacks Crude Tanker in Dubai Port
Oil pushed higher after Iran attacked another tanker in the Persian Gulf and US President Donald Trump issued threats against the country’s civilian infrastructure as hostilities in the Middle East escalated.
West Texas Intermediate futures jumped almost 4% toward $107 a barrel, while Brent for May was near $115. A fully-laden Kuwaiti crude carrier was hit by Iran in Dubai Port causing a fire and damaging the hull, according to a statement from Kuwait Petroleum Corp. Tehran has targeted ships across the region since the war began, and previously attacked two vessels near Iraq.