Oil prices jump as US, Iran trade fire in Strait of Hormuz
The story
Brent crude rises amid clashes in critical waterway.
From the source
x whatsapp-stroke copylink google Add Al Jazeera on Google info A boat sails past a tanker anchored on the Strait of Hormuz off the coast of Qeshm Island, Iran, on April 18, 2026 [Asghar Besharati/AP Photo] By John Power Published On 8 May 2026 8 May 2026 Oil prices have jumped after clashes between United States and Iran in the Strait of Hormuz pushed their tenuous ceasefire to the brink.
Futures for Brent crude rose as much as 7.5 percent during a volatile trading session on Thursday, before easing as Asia’s markets opened on Friday morning.
The international benchmark stood at $101.12 per barrel as of 03:00 GMT, down from the day’s high of $103.70.
Who and what
Key names and topics in this story: Iran, Strait, Hormuz.
Where to follow next
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