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Oil prices jumped roughly 5% after President Trump posted on social media that the U.S. would be reimbursed for helping ships transit the Strait of Hormuz, signaling a reimposed naval blockade on Iranian oil.
Oil prices jumped after the US blockaded Iranian ports, raising fears of a sustained supply shortfall. Trump met oil company executives to explore ways to cushion the hit to fuel supplies. How long the blockade lasts and whether other producers respond will drive prices from here.
Tag
Oil prices jumped roughly 5% after President Trump posted on social media that the U.S. would be reimbursed for helping ships transit the Strait of Hormuz, signaling a reimposed naval blockade on Iranian oil.
1mo ago · 3 min · Global Affairs
Oil prices jumped after the US blockaded Iranian ports, raising fears of a sustained supply shortfall. Trump met oil company executives to explore ways to cushion the hit to fuel supplies. How long the blockade lasts and whether other producers respond will drive prices from here.
4mo ago · 1 min · Global Affairs
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