Oil Prices Volatile Ahead of Trump's Deadline for Iran to Reopen Strait of Hormuz
Published . Category: World.
Global oil prices swung sharply on Tuesday as markets reacted to the approaching US deadline set by President Donald Trump for Iran to reopen the critical Stra…
Global oil prices swung sharply on Tuesday as markets reacted to the approaching US deadline set by President Donald Trump for Iran to reopen the critical Strait of Hormuz. Brent crude, the global oil benchmark, surged above $111 per barrel in early trading before pulling back to around $109. The volatility highlights deep uncertainty over whether a diplomatic breakthrough can be reached or if the conflict will escalate further. On Monday, Trump issued a firm ultimatum, warning that failure to…