Oil tops $116 as Trump targets Iran oil and Houthis escalate Middle East conflict
TL;DR Summary
Oil prices surged above $116 a barrel as Trump floated seizing Iran’s oil and Iran-backed Houthis widened attacks, raising concerns that the Middle East conflict could intensify and disrupt global supply routes like the Strait of Hormuz and Bab al-Mandab. Brent traded around $114–$116 and WTI near $101, with analysts warning prices could spike further if the fighting persists. The market stayed volatile as investors weighed geopolitical risk and the potential economic impact of a protracted conflict.
- Oil tops $116 after Trump says he wants to ‘take the oil’ in Iran and Houthis enter the war CNN
- Oil prices rise with Brent heading for record monthly surge as Iran war enters fifth week CNBC
- Global Oil Prices Hit $115 a Barrel as War in Iran Enters Its Second Month U.S. News & World Report
- Crude oil and LNG supply are at risk of the worst-possible scenario Reuters
- Oil Prices Face Higher-For-Longer Baseline WSJ
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