Oil hits more than 3-week high as Trump tries to raise pressure on Iran
NEW YORK — Oil prices rose to more than a three-week high on Thursday after U.S. President Donald Trump warned of retaliation against nations supporting Iran, his latest attempt to resolve a war that has stranded millions of barrels of Middle Eastern oil. Brent crude futures were up $2.20, or 2.4 percent, to $93.82 a barrel at 11:36 a.m. EDT, while U.S. West Texas Intermediate crude futures for…
Oil prices have surged to a three-week high, reaching new heights for Brent crude and U.S. West Texas Intermediate (WTI) futures, as U.S. President Donald Trump intensifies pressure on Iran. Trump's latest threat of economic warfare and isolation against Tehran comes amid a war that has claimed thousands of lives since it began nearly six months ago.
The U.S. Treasury Secretary announced a press conference to discuss the administration's response to the escalating conflict, which has stranded millions of barrels of Middle Eastern oil. Brent crude futures climbed $2.20, or 2.4%, to $93.82 a barrel, while WTI crude futures for September rose $2.33 to $88.16 a barrel, both hitting their highest levels since July 24 and marking a fifth consecutive day of gains.
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- Trump warns of economic consequences for any country supporting Iran sabcnews.com
- Iran's main trade partners at risk from Trump's 'economic warfare' koreatimes.co.kr
- Iran calls Trump's ‘Economic D-Day’ a 'distraction from America’s own crisis' ynetnews.com
- Trump says Iran's economy is collapsing. A former central bank adviser in Tehran pushes back cnbc.com
- Iran condemns Trump's new sanctions, calls them ‘economic terrorism,’ ‘crimes against humanity’ livemint.com
- China slams Trump over economic war on Iran: What to know al-monitor.com
