This post was originally published on this site.Crude oil prices closed sharply higher on Thursday as geopolitical tensions in the Middle East continued to inject a significant risk premium into the market. WTI crude settled at $77.29, up $2.07 or 2.75%, while Brent crude settled at $82.49, gaining $3.04 or 3.83%. Brent outperformed WTI as traders placed a larger premium on global supply risks tied to the Persian Gulf. The latest catalyst came from reports that Iran is considering restrictions on shipping through the Strait of Hormuz, including reports that U.S. and Israeli-linked vessels could be barred from transiting the...