US EditionBrent Breaks $70 After Trump Threatens Iran With Military Force
U.S. threats and naval deployment to the Persian Gulf raised fears of supply disruptions, pushing Brent crude above $70 for the first time in over five months, analysts said.
- On Thursday, Brent Crude topped $70, jumping 4.71% to $71.62 as U.S. President Donald Trump warned Iran of a `massive armada` headed to the Persian Gulf.
- Amid Iran's nationwide protests, plainclothes security forces have rounded up thousands, while U.S. President Donald Trump is weighing targeted strikes on Iranian security leaders to inspire protesters.
- The Brent–WTI premium climbed to $5.27 per barrel, its highest since April 2024, while Brent futures rose $2.50 to $70.90 and WTI gained $2.35 to $65.56 by 12:47 p.m. EST.
- Markets and gold soared as investors priced heightened supply risk, and Iran's armed forces vowed to `immediately and powerfully` respond to any attack.
- Kazakhstan said Chevron aims to restore Tengiz oilfield output in a week, analysts noted Russia peace deals and Venezuela reforms could ease supply, and a weaker U.S. dollar supports prices.
13 Articles
13 Articles
Oil Prices Surge 4% to Five-Month High on Worries US Could Take Action Against Iran
Oil prices climbed about 4% to a five-month high on Thursday on rising concerns that global supplies could be disrupted if the U.S. decides to attack Iran, one of OPEC’s biggest crude producers. Brent futures rose $2.50, or 3.7%, to $70.90 a barrel by 12:47 p.m. EST (1747 GMT), while U.S. West Texas Intermediate (WTI) gained $2.35, or 3.7%, to $65.56. That pushed both crude benchmarks into technically overbought territory and put Brent on track …
Tensions are rising between the US and Iran, and the price of Brent crude, the international energy benchmark, rose above $70 a barrel on Monday.
Brent Breaks $70 After Trump Threatens Iran With Military Force
Brent Crude prices topped $70 per barrel early on Thursday for the first time since August, as U.S. President Donald Trump warned Iran that a “massive armada” of U.S. Navy ships is headed to the Persian Gulf. At the time of writing, Brent Crude prices had jumped by 4.71% at $71.62. This was the highest in more than five months and the first time the international benchmark has topped $70 per barrel since early August. The U.S. benchmark, WTI Cr…
The barrel of Brent oil for delivery in March this Thursday exceeded 70 dollars in the futures market of London, driven by tensions between the United States and Iran and the weakening of the dollar. The crude oil of the North Sea, of reference in Europe, ended the day in 70.71 dollars, a 3.38% -or 2.31 dollars - more than the previous closure, when it ended in 68.40 dollars. The rise -there is an accumulated advance of more than 14% so far this…
Gold hit another all-time high on Thursday, but by the end of the day it had fallen more than $20. Brent is also on the move, with a barrel of oil now at nearly $70. Mixed ... ...
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