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Sharjah24
Oil increases as Trump warns Iran
Oil prices rose significantly following U.S. President Donald Trump's statement, in which he threatened a severe attack on Iran if a peace agreement was not reached. The price of Brent crude reached $93.10 per barrel, an increase of 1.8%. U.S. crude futures traded at $90.03 after a 2% rise. Prices jumped by about three dollars in afternoon trading after Trump confirmed that Iran would face a new attack, following a night exchange of gunfire, amid reports of ships carrying over 100 million barrels of oil passing through the Strait of Hormuz.
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