US Crude Rises to $105.50 After Earlier Spike to $110.93

U.S. West Texas Intermediate crude opened at $105.50 a barrel Wednesday, up 41 cents or 0.4 percent. The move follows a volatile session where WTI hit an intraday high of $110.93, its highest point since April 7, before settling at $105.07.

Oil remains on track for a fourth consecutive monthly gain amid persistent fears the Iran conflict could choke global supplies for months to come.