Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’

Source: US news | The Guardian · Bias: Center Left

Summary

Markets spooked as US president appears willing to keep up naval blockade and Iran keeps Hormuz strait all but shutBusiness live – latest updatesThe global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump warned the US blockade of Iranian ports could last for months and peace talks remained stalled.After surging more than 13% in 24 hours, the price of Brent crude futures reached its highest price since the war began on 28 February. Not since Russia’s 2022 invasion of Ukraine has Brent topped $120, with the price then peaking at $139. Continue reading...

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Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’
US news | The Guardian

Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’

Center Left

Markets spooked as US president appears willing to keep up naval blockade and Iran keeps Hormuz strait all but shutBusiness live – latest updatesThe global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump warned the US blockade of Iranian ports could last for months and peace talks remained stalled.After surging more than 13% in 24 hours, the price of Brent crude futures reached its highest price since the war began on 28 February. Not since Russia’s 2022 invasion of Ukraine has Brent topped $120, with the price then peaking at $139. Continue reading...