{
  "id": 2240403,
  "title": "Oil settles up more than 2% after Trump threatens countries supporting Iran",
  "url": "https://urgent.news/2026/08/20/oil-settles-up-more-than-2-after-trump-threatens-countries-supporting",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-20T22:09:30.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-settles-more-2-after-trump-threatens-countries-supporting-iran"
  },
  "original_language": "en",
  "account": "Oil prices surged more than 2% on Thursday (Aug 20) to reach their highest level in nearly a month, as US President Donald Trump threatened retaliation against nations supporting Iran. Brent crude futures climbed US$2.16, or 2.4%, to US$93.78 a barrel, while US West Texas Intermediate crude futures for September rose US$2, or 2.3%, to US$87.83 a barrel, both the highest since July 24. US Treasury Secretary Scott Bessent announced a press conference on Monday to discuss potential actions. Prior to the Iran war, shipping traffic through the Strait of Hormuz, a crucial chokepoint for global oil supply, averaged about one-fifth of pre-war levels. The United Arab Emirates recently suspended all financial and economic transactions with Iran, reflecting the strained relationships between Gulf Arab oil producers and Tehran. The conflict, which began on Feb 28 with US and Israeli military strikes on Iran, has resulted in thousands of casualties and significantly disrupted the flow of oil and gas to other countries. Despite the threats from the US, oil trading advisors suggest that Iran's control of the Strait of Hormuz remains a key leverage for the country, and a major decline in oil prices seems unlikely at present.",
  "summary": "Shipping traffic through the Strait of Hormuz on Wednesday was unchanged from the day before",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "Ynetnews",
        "title": "Iran calls Trump's ‘Economic D-Day’ a 'distraction from America’s own crisis'",
        "url": "https://urgent.news/2026/08/20/iran-calls-trumps-economic-d-day-a-distraction-from-americas-own",
        "published": "2026-08-20T06:48:40.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "Trump says Iran's economy is collapsing. A former central bank adviser in Tehran pushes back",
        "url": "https://urgent.news/2026/08/20/trump-says-irans-economy-is-collapsing-a-former-central-bank-adviser",
        "published": "2026-08-20T08:38:11.000Z"
      },
      {
        "outlet": "Al-Monitor",
        "title": "China slams Trump over economic war on Iran: What to know",
        "url": "https://urgent.news/2026/08/20/china-slams-trump-over-economic-war-on-iran-what-to-know",
        "published": "2026-08-20T14:46:45.000Z"
      },
      {
        "outlet": "SABC News",
        "title": "Trump warns of economic consequences for any country supporting Iran",
        "url": "https://urgent.news/2026/08/20/trump-warns-of-economic-consequences-for-any-country-supporting-iran",
        "published": "2026-08-20T16:18:19.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Oil hits more than 3-week high as Trump tries to raise pressure on Iran",
        "url": "https://urgent.news/2026/08/20/oil-hits-more-than-3-week-high-as-trump-tries-to-raise-pressure-on",
        "published": "2026-08-20T16:52:03.000Z"
      },
      {
        "outlet": "Live Mint",
        "title": "Iran condemns Trump's new sanctions, calls them ‘economic terrorism,’ ‘crimes against humanity’",
        "url": "https://urgent.news/2026/08/20/iran-condemns-trumps-new-sanctions-calls-them-economic-terrorism",
        "published": "2026-08-20T17:03:39.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Oil rises for fifth straight day as Trump promises to crush Iran's economy",
        "url": "https://urgent.news/2026/08/20/oil-rises-for-fifth-straight-day-as-trump-promises-to-crush-irans",
        "published": "2026-08-20T23:35:37.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}