Trump · Sherwood News
Brent crude climbs past $100 again and stocks tick lower after Trump orders Hormuz blockade
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Oil prices topped $100 a barrel once again and stocks fell in early trading after President Trump announced the US will blockade the Strait of Hormuz starting Monday.
Key facts
- Futures on international benchmark Brent crude rose nearly 8% to $103 per barrel, while US West Texas Intermediate crude also gained ~8% to $104 per barrel as of 5:30 a.m
- Asia markets traded lower, with Japan’s Nikkei 225 and South Korea’s KOSPI falling 0.7% and 0.9%, respectively
- Oil prices topped $100 a barrel once again and stocks fell in early trading after President Trump announced the US will blockade the Strait of Hormuz starting Monday
- Oil field services company Halliburton and natural gas producer EQT Corp. also gained, along with chemical makers Dow, Inc
Summary
After US-Iran peace talks in Pakistan failed to reach a deal over the weekend, Trump said Sunday morning in a Truth Social post that the Navy would block “ any and all Ships trying to enter, or leave, the Strait of Hormuz.” US Central Command later confirmed the blockade would begin at 10 a.m. Futures on international benchmark Brent crude rose nearly 8% to $103 per barrel, while US West Texas Intermediate crude also gained ~8% to $104 per barrel as of 5:30 a.m. The early morning action is reminiscent of the early days of the war, with energy stocks catching a bid as oil prices jumped. Oil field services company Halliburton and natural gas producer EQT Corp. also gained, along with chemical makers Dow, Inc.