The barrel of Brent crude, the world benchmark, shot up above $80 on Wednesday after new statements from Donald Trump threatening to hit Iran “hard” tomorrow night, with the market worrying about a new blockage of the strategic Strait of Hormuz.
The Brent crude oil barrel, the world benchmark for crude, shot up above $80 on Wednesday after new statements from Donald Trump threatening to hit Iran “hard” tomorrow night, with the market worried about a new blockade of the strategic Strait of Hormuz.
Already sharply up after the US president had earlier said that the ceasefire with Iran was “over,” the price of North Sea Brent for September delivery jumped 8.04% around 3:20 PM GMT to $80.12, reaching its highest level in over two weeks.
The price of its US counterpart, the West Texas Intermediate (WTI) barrel for August delivery, also climbed 7.65% to $75.83.
