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Commodities

Trump's Vow Sends US Oil Prices Soaring Amid Iran Conflict

Guavy AI Editorial Team
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Oil Natural Gas
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US crude oil prices surged more than 11% on Thursday after President Donald Trump vowed to continue attacks on Iran, increasing concerns over prolonged disruptions to global oil supply. The price jump brought WTI to nearly $114/bbl, its highest level since March 9.

The Strait of Hormuz remains a major concern as Iran has effectively shut down the narrow waterway, through which a fifth of global oil and liquefied natural gas is shipped. Trump's speech did not provide clarity on when the strait might reopen.

Market analysts are warning that even if Iran's oil infrastructure is left intact, the restart of oil flows in the region may be delayed further due to the ongoing conflict.

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