Trump news at a glance: Oil price surges again as Iran accuses US of breaking ceasefire
Summary
Oil prices rose sharply after Iran accused the United States of breaking a ceasefire by firing on an Iranian ship near the Strait of Hormuz. Iran’s military promised to respond, and tensions remain high in the region, affecting a key route for global oil transport.Key Facts
- West Texas Intermediate (WTI) crude oil increased by 7.5%, reaching $90.17 per barrel.
- Brent North Sea crude rose by 6.5%, reaching $96.27 per barrel.
- The U.S. destroyer USS Spruance fired on an Iranian-flagged cargo ship in the Gulf of Oman.
- Iran says the ship was trying to avoid a U.S. naval blockade near the Strait of Hormuz.
- The Strait of Hormuz is a vital route for world oil and liquefied natural gas exports.
- The U.S. military took control of an Iranian container ship near the blockade, announced by President Trump.
- Iran currently has no plans to participate in new talks with the U.S., according to Iranian state media.
- Energy officials say gas prices in the U.S. may not drop below $3 per gallon until 2027.
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