The jump follows reports of Donald Trump being ready to continue the blockade of Iranian ports “for months”
The price of Brent crude oil rose to $126 on Thursday as US-Iran talks stalled and reports that US President Donald Trump may extend the blockade of Iranian ports.
It hit $126.3 for the first time since March 2022, when the Ukraine conflict escalated. Prices later eased to $125.30. The price of West Texas Intermediate (WTI) crude oil also rose 10.5% to $110.5 per barrel, as traffic through the Strait of Hormuz continues to face disruptions.
On Wednesday, media reports, citing White House officials, said Trump ordered a plan to prolong the blockade of Iranian ports “for months” in a bid to pressure Tehran to consent to a more favorable peace deal.
The Iranian authorities insisted that they will keep preventing vessels from the US and its allies from going through the Strait of Hormuz, which accounts for some 25% of global crude trade, for as long as the country is being harnessed. Tehran has also warned that it is ready to launch “unprecedented military action” to lift the US blockade of its ports.
DETAILS TO FOLLOW
Hence then, the article about oil spikes to highest price since 2022 was published today ( ) and is available on Russia Today ( News ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Oil spikes to highest price since 2022 )
Also on site :
- Microsoft, Meta, and Google just announced billions more in AI spending. Only Google convinced investors it’s paying off
- Meta’s AI Is Delivering but Comes With a Hefty Price Tag .. PYMNTS.com
- 2026 Billboard Women in Music Red Carpet: The Best Photos