Oil Prices Experience Significant Fluctuations

Oil prices have experienced significant volatility, with a sharp rise followed by a decline. According to RTHK, the May contract for London Brent crude oil initially surged nearly 11%, reaching $119.13 per barrel, approaching a more than three-and-a-half-year high set earlier last week. Brent crude settled at $108.65, marking an increase of approximately 1.2%. Meanwhile, the April contract for New York crude oil briefly surpassed $100, rising over 5% to $101.48 before closing at $96.14, reflecting a decrease of about 0.2%.