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Crude oil climbed to $120 per barrel on April 30, its highest since mid-2022, as U.S. sanctions on Iranian exports tightened global supply. Stalled nuclear negotiations between Washington and Tehran offer no near-term relief. Elevated prices could push fuel and inflation costs higher across multiple sectors.
Iran shut the Strait of Hormuz to US-flagged vessels, and President Trump issued a blackmail warning while describing ongoing nuclear talks as 'very good.' The closure threatens roughly 20 percent of global oil supply flows, putting immediate pressure on freight costs and crude pricing. Trump signaled a policy
Tag
Crude oil climbed to $120 per barrel on April 30, its highest since mid-2022, as U.S. sanctions on Iranian exports tightened global supply. Stalled nuclear negotiations between Washington and Tehran offer no near-term relief. Elevated prices could push fuel and inflation costs higher across multiple sectors.
2mo ago · 1 min · Markets
Iran shut the Strait of Hormuz to US-flagged vessels, and President Trump issued a blackmail warning while describing ongoing nuclear talks as 'very good.' The closure threatens roughly 20 percent of global oil supply flows, putting immediate pressure on freight costs and crude pricing. Trump signaled a policy
2mo ago · 1 min · Global Affairs
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