ConfirmedShipping, energy & marketsBackgroundNew York, United States
Brent jumps 7% to $102 as markets open after U.S. announces blockade of Iranian ports
- Mountain Time
- Local time
- 6:26 PM in New York
- Where
- New York, United States
In early trading, U.S. crude rose 8% to $104.24 a barrel and Brent rose 7% to $102.29 after the U.S. said it would blockade Iranian ports, AP reported; Brent had closed Friday at $95.20. Lloyd’s List Intelligence said all traffic through Hormuz stopped after Trump’s announcement.
Why it matters
The move pushed oil back above $100 after the ceasefire had eased prices, showing markets price the blockade as a further supply loss rather than a path to reopening.
Sources (3)
- Associated Pressapnews.comPublished
- Al Jazeeraaljazeera.comPublished
- CBS Newscbsnews.comPublished
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