Global oil markets remain unsettled after remarks by U.S. President Donald Trump failed to ease concerns over disruptions in the Strait of Hormuz.
Benchmark Brent crude, which was trading at around $100 per barrel before the address, fluctuated during the speech and has since risen by about 4% to approximately $105.38.
Market uncertainty continues as the Strait of Hormuz — a vital global shipping route — remains effectively closed amid the ongoing conflict.
The strait is a critical artery for global energy supply, with nearly 20% of the world’s oil and gas shipments typically passing through it.
Tensions escalated after Iran responded to U.S. and Israeli airstrikes by threatening to target vessels using the waterway, raising fears of prolonged supply disruptions.
Analysts say continued instability in the region is likely to keep oil markets volatile in the near term.
Source: BBC
