US Edition
Oil prices rise anew after a US-Iran standoff in the Strait of Hormuz strands tankers
U.S. crude rose 6.4% and Brent 5.8% as tanker traffic stayed blocked, with no commercial ships recorded crossing the strait, Kpler said.
- On Sunday, April 19, U.S. forces seized the Iranian-flagged cargo ship Touska after it attempted to breach the U.S. naval blockade following Iran's reversal on reopening the Strait of Hormuz.
- Iran reversed its Friday commitment to reopen the Strait of Hormuz on Saturday, firing on commercial vessels after President Donald Trump confirmed the U.S. naval blockade would remain in full force.
- U.S. benchmark crude gained 5.6% to $87.20 a barrel while Brent crude rose 5.3% to $95.16, as Trump stated the U.S. Navy "blew a hole in the engine room" of the Touska before U.S. Marines took custody.
- Iran stated it would not attend scheduled peace talks in Islamabad, citing the blockade as a "breach of trust," while Trump warned the U.S. will target Iranian power plants and bridges if Iran rejects the current deal.
- Expiring this Wednesday, the fragile ceasefire faces renewed pressure as Energy Secretary Chris Wright stated the U.S. is engaged in a "maximum pressure campaign" on Iran, noting gasoline prices may not drop until next year.
140 Articles
140 Articles
Chicago Tribune
Oil prices jump and Wall Street slides with US, Iran clashing in the Strait of Hormuz
Oil prices climbed more than 5% and Wall Street veered toward losses before the opening bell Monday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz.
Oil barrel prices advanced more than 5 percent on average during the opening of Asian markets this Monday (time of that region of the world), while investors react to the escalation of tensions around the Strait of Hormuz and reports on the second round of talks between Iran and the United States.
Oil prices and stocks climb as the US-Iran standoff keeps the Strait of Hormuz in limbo - The Morning Sun
Oil prices climbed more than 5% while Asian shares also advanced Monday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz. The Persian Gulf waterway was closed again after Iran reversed a decision to reopen the strait and President Donald Trump said a U.S. Navy blockade of Iranian ports remains in effect. U.S. benchmark crude gained 5.6% to $87.20 a barrel, while Brent crude, the international standard, wa…
Washington Top News
Oil prices jump and stocks are mixed as the US-Iran standoff keeps the Strait of Hormuz in limbo
Oil prices climbed more than 5% while world shares were mixed Monday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz. The Persian Gulf waterway was closed again after Iran reversed a decision to reopen the strait and President Donald Trump said a U.S. Navy blockade of Iranian ports remains in effect. U.S. benchmark crude gained 5.3% to $87.88 a barrel, while Brent crude, the international standard, was u…
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