[MARKET UPDATE] Oil futures extend on gains with WTI Apr'26 and Brent May'26 contracts both breaching above USD 113/bbl

Oil futures are demonstrating strong momentum as both WTI and Brent crude contracts have surpassed the USD 113/bbl mark. This price movement underscores a significant demand-side driver, likely influenced by geopolitical tensions that could signal further volatility in energy markets. Traders should consider the implications for inflation and the performance of commodity-linked currencies as these levels might sustain upward pressure in the broader commodity complex.