Oil prices fall after Trump warns Iran over Strait of Hormuz
In late morning trade in Asia, Brent crude was 6% lower at $93.05 (£69.33) and Nymex Light Sweet was down 6.1% at $88.96. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Oil prices experienced a significant drop following US President Donald Trump's strong warning to Iran against blocking the Strait of Hormuz, a vital shipping route for global energy supplies.
- Brent crude fell 6% to $93.05, and Nymex Light Sweet was down 6.1% to $88.96.
- The price decrease follows fears of supply disruptions due to US-Israeli conflict with Iran, though Trump's comments suggested a potentially short conflict.
- The Strait of Hormuz is critical, with approximately a fifth of the world's oil passing through it daily.
Continue Reading
Read the complete article from Capital Business
Part of the Day's Coverage
Oil Prices Volatile After Trump Iran Warning, Strait of Hormuz Threat - March 2026
Oil prices experienced historic volatility, surging to $115 a barrel before a potential release of emergency stockpiles and comments from US President Donald Trump offered some relief, though prices remain elevated. Saudi Aramco CEO Amin Nasser warned that regional military escalation is causing significant shipping and insurance disruptions, impacting global oil markets. G7 nations pledged to take necessary measures to support global energy supplies amidst soaring oil prices triggered by the US-Israel conflict with Iran, though no immediate agreement to release strategic reserves was reached.
