Brent crude climbed above $115 per barrel as oil prices extended a multi-day rally, driven by new threats from President Donald Trump targeting Iran. The move came alongside reports that the U.S. is looking to expand its blockade of Iranian ports, adding fresh supply pressure to an already tight market. Iran is a significant oil producer, and any tightening of export restrictions cuts directly into global supply. A naval or diplomatic blockade of Iranian ports would limit how much crude Tehran can ship to buyers, most of whom are in Asia. That shrinks available supply without an immediate offset from other producers. Higher oil prices feed through quickly into fuel costs, inflation, and transport expenses for businesses and consumers worldwide. Emerging markets that import oil heavily, including India, face added pressure on their trade balance and currency when crude prices spike. Watch whether OPEC members or the U.S. signal any intention to raise output to offset the Iran-related supply risk, and whether Iran responds diplomatically or escalates further.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
