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Commodities

Trump Threatens Reparations as Oil Prices Soar Amid Diplomatic Stalemate

Guavy AI Editorial Team
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Oil
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Oil prices rose over two percent on Tuesday after US President Donald Trump's comments weakened hopes of a near-term peace deal between the US and Iran.

Trump stated that Washington would seek reparations from Tehran for damages incurred during the past 50 years, which he claimed totaled significant losses. The US President also asserted that the US Navy has '100 percent control' over the Strait of Hormuz, contradicting earlier claims by Iranian officials that they were seeking financial compensation for damage caused during US-Israeli military operations.

Brent crude was trading at $89.806 per barrel, up 2.1 percent, while US crude was at $84.386 per barrel, up 2.3 percent.

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