US EditionOil Jumps on Trump's Iran Threat; Gold Retreats From Highs
Markets reacted to heightened geopolitical risk after Trump warned Iran of possible military action; Brent crude rose to $68.01 per barrel, supporting oil majors BP and Shell.
- On Wednesday, the FTSE 100 fell 53.37 points, 0.5%, at 10,154.43 as West Texas Intermediate futures rose to $63.52 a barrel after President Donald Trump's warning to Iran.
- Amid naval deployments in the region, Tehran rejected talks and vowed unprecedented retaliation as a US strike group led by USS Abraham Lincoln prowled Middle East waters, raising supply fears.
- BP and Shell rose 1.0% and 1.3% respectively as Brent oil traded at 65.92 dollars a barrel, up from late Tuesday, amid mixed U.S. gasoline stockpiles at their highest since 2020.
- A government report on crude inventories reinforced the rally in oil as U.S. crude stockpiles fell 2.3 million barrels last week while the S&P 500 index briefly topped 7,000.
- Treasury Secretary Scott Bessent's comments sparked a dollar rally that muted commodity gains, as the U.S. dollar rose from near a four-year low and kept bullish options costly versus bearish ones.
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41 Articles
Daily Journal
Oil jumps on Trump's Iran threat; gold retreats from highs
Oil prices surged Thursday after US President Donald Trump ramped up geopolitical tensions with threats of a military strike on Iran, while safe-haven gold fell back after hitting a fresh record near $5,600.
Prospect of strike on Iran sends oil prices soaring
Oil prices spiked on Thursday as traders weighed the possibility of conflict in the Middle East amid President Donald Trump‘s increased pressure on Iran to accept a nuclear deal, with warnings of a possible military strike. Brent crude futures rose $3.33, or 4.8%, to $71.73 per barrel, marking the first time it hit $70 since September. U.S. West Texas Intermediate crude was up $3.16, or 5%, at $66.37 per barrel. Iran is the sixth-largest oil pro…
Oil barrel prices rise by more than 5% on Thursday, at the highest since August, driven by Donald Trump's threats to Iran, a major oil producer and country bordering the Strait of Ormuz, through which about 20% of world production flows.
Evening Standard
FTSE 100 falls and oil price rises after Trump’s warning to Iran
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