30.04.2026 16:38
US President Donald Trump's announcement that the naval blockade in the Strait of Hormuz will continue until an agreement is reached with Iran has sharply moved oil markets. Brent crude rose above $125, reaching its highest level since 2022, while WTI climbed above $110.
US President Donald Trump said the naval blockade in the Strait of Hormuz will continue until Iran agrees to a deal with the US. Trump's statement renewed supply concerns in energy markets.
Following the statement, oil prices rose rapidly in Asian markets.
BRENT OIL EXCEEDS $125
Brent crude futures, considered the global benchmark for seaborne oil, rose above $125 today. Brent oil increased by 6.84%, with the barrel price rising by $7.12.
WTI ALSO ROSE
US crude oil West Texas Intermediate also rose during the same period. The WTI price increased by 3.30% to $110.30. The volatility in markets heightened concerns over the impact of tensions around the Strait of Hormuz on global energy supply.
STRAIT OF HORMUZ CRITICALLY IMPORTANT
The Strait of Hormuz is considered one of the most important transit points for global oil transportation. Therefore, military and diplomatic tensions in the region lead to rapid fluctuations in oil prices.
Trump's statement that the blockade will continue was evaluated by investors as a new risk factor for Iranian oil and the flow of shipments in the region.
SUPPLY CONCERNS GROW IN MARKETS
According to experts, the continuation of the naval blockade increases the risk of disruption in oil supply. This could create new pressure on energy costs and global inflation.
The message that the blockade will continue if Iran does not accept a deal with the US led to comments that tensions in oil markets could persist in the short term.