Oil prices jump as Strait of Hormuz tensions escalate
Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February
BBC Business
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The useful update
- Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February
- Oil prices jump as Strait of Hormuz tensions escalate
The stakes
- The waterway is of key importance as usually about 20% of the world's oil and liquefied natural gas passes through it
- Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February and Tehran responded with threats to target shipping in the strait
The next check
- A White House official said Vice-President JD Vance would lead the US delegation
- If the story affects a decision, open the original BBC Business report and the relevant official page before relying on local prices or timing
Where this came from
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Original report Oil prices jump as Strait of Hormuz tensions escalate
Publisher: BBC Business · bbc.com
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The short version
Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February
Global oil prices have jumped after US President Donald Trump said its navy had intercepted and seized an Iran-flagged cargo ship
The Brent crude benchmark oil price rose by more than 4% to $94.20 (£69.60) a barrel, reversing a fall on Friday when Iran said the Strait of Hormuz would be "completely open" to commercial vessels for the remainder of the ceasefire
What happened
- Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February
- Oil prices jump as Strait of Hormuz tensions escalate
- Global oil prices have jumped after US President Donald Trump said its navy had intercepted and seized an Iran-flagged cargo ship
- The Brent crude benchmark oil price rose by more than 4% to $94.20 (£69.60) a barrel, reversing a fall on Friday when Iran said the Strait of Hormuz would be "completely open" to commercial vessels for the remainder of the ceasefire
- On Saturday, Iran said it was closing the strait again and that any ship that approached it would be targeted
Why this matters
- The waterway is of key importance as usually about 20% of the world's oil and liquefied natural gas passes through it
- Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February and Tehran responded with threats to target shipping in the strait
- A White House official said Vice-President JD Vance would lead the US delegation
- The practical value is the source trail: BBC Business is the place to check before acting on prices, dates, availability, or local implications
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BBC Business
Original articleOil prices jump after Trump says Iranian ship seized
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BBC Business
Image from BBC Business via the original article.
BBC Business
Original articleOil prices jump after Trump says Iranian ship seized
Image from BBC Business via the original article.
BBC Business
Original articleOil prices jump after Trump says Iranian ship seized
Image from BBC Business via the original article.