- BIST10011,577-1.87%
- USD49.58+0.05%
- EUR55.62+0.09%
- GOLD4,152.80+0.25%
- INTEREST37.00%-1.00
- BITCOIN84,500+1.88%
- October 21, 202617°
- BIST10011,577-1.87%
- USD49.58+0.05%
- EUR55.62+0.09%
- GOLD4,152.80+0.25%
- INTEREST37.00%-1.00
- BITCOIN84,500+1.88%
- October 21, 202617°
Trump’s Iran decision sends oil higher as Brent nears $92
U.S. President Donald Trump’s call to halt negotiations with Iran and announcement that the U.S. blockade of the Strait of Hormuz would continue pushed oil prices up 1% on Wednesday. Brent crude rose to $91.9, while U.S. crude reached approximately $85.8.
U.S. President Donald Trump’s call to halt negotiations with Iran and statement that the naval blockade of the Strait of Hormuz would continue pushed oil prices up 1% on Wednesday.
Brent crude futures rose 1% to $91.9 per barrel. U.S. crude futures climbed 1.05% to trade at approximately $85.8 as of 11:00 UTC.
Brent crude rose 25% in July
Brent crude had gained approximately 25% in July amid rising tensions between the United States and Iran and concerns that oil shipments through the Strait of Hormuz and the Red Sea could be disrupted.
On Tuesday, Trump asked senior representatives of his administration to end ongoing talks with Iran. The U.S. president also announced that the U.S. blockade of the Strait of Hormuz would continue.
Ghalibaf responds to U.S. pressure policy
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said the U.S. administration’s efforts to force Iran to make concessions would fail. Ghalibaf said this approach, which increases economic and military pressure, had not been part of previous agreements.
Strait of Hormuz agreement not implemented
After the war launched by the United States and Israel against Iran on February 28, Iran carried out attacks against Israel and targets in the region that it said belonged to the United States. The parties reached a ceasefire agreement in April.
Washington and Tehran signed an agreement on June 18 concerning freedom of navigation in the Strait of Hormuz. However, disagreements over the strait’s security hindered implementation of the agreement.
The United States resumed attacks on Iran between July 8 and 24, while Tehran targeted U.S. military facilities and equipment that it said were located in several Arab countries.
Stay Updated with Ally Daily
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
