LONDON — Oil prices jumped on Wednesday (April 22) with Brent trading above US$100 (S$127) a barrel, erasing earlier losses following reports of gunfire attacks on at least three container ships in the Strait of Hormuz.

Brent crude futures were up US$1.59, or 1.6 per cent, at US$100.07 a barrel at 8.42am GMT (4.42pm SGT) West Texas Intermediate futures rose US$1.51, or 1.7 per cent, to US$91.18. Both benchmark contracts rose about three per cent on Tuesday.