The Federal Reserve kept interest rates unchanged at its April meeting, with growing divisions among policymakers on future direction. Meanwhile, oil prices surged above $120 per barrel due to the Iran conflict, intensifying inflation concerns.
Brent crude oil breaks above $125 per barrel, reaching the highest level since 2022. US military commanders to brief Trump on new Iran military options Thursday as global stocks decline broadly.
International oil prices surge over 5% to $117 per barrel following reports that Trump has instructed aides to prepare for an extended Iranian blockade of the Strait of Hormuz.
Brent crude oil surged to $119 a barrel on Wednesday, up nearly 7%, as reports emerged that the US is preparing to extend its blockade of Iranian ports, while Tehran threatens to continue disrupting shipping through the Strait of Hormuz.
Trump has reportedly instructed aides to prepare for a prolonged Hormuz Strait blockade, while Iran has proposed a three-stage plan to reopen the strait in exchange for lifting the US blockade.
Brent crude oil surged to approximately $117 per barrel amid reports that the US is preparing to extend its naval blockade of Iranian ports.
Iranian Foreign Minister Araghchi conducts a 72-hour diplomatic sprint across three countries, proposing a plan to reopen the Strait of Hormuz while deferring nuclear negotiations with the US to a later stage.
The UAE officially announces its withdrawal from OPEC and OPEC+, dealing a major blow to the oil cartel amid escalating regional tensions.
President Trump expresses skepticism toward Iran’s proposal to reopen the Strait of Hormuz in exchange for lifting the blockade, dimming prospects for a near-term end to the conflict.
Trump is considering an Iran peace proposal as US-Iran talks hit an impasse. German Chancellor Merz says the US is ‘being humiliated by Iran’ as European patience wears thin. Meanwhile, a Russia-linked superyacht sails through the Hormuz blockade.