OIL PRICES RISE TO ONE-MONTH HIGH AFTER TRUMP ANNOUNCES STRAIT OF HORMUZ...

Oil prices reached their highest level in one month following an announcement by Trump regarding a renewed blockade of the Strait of Hormuz. According to reported figures, U.S. oil rose above $75 per barrel. Official data suggests oil prices are now 12 per cent higher than they were on Friday, reflecting market reaction to the announced policy shift.

The blockade targets Iranian ships transiting the Strait of Hormuz, a critical chokepoint for global energy supplies. The U.S. and Iran disputed whether the strait remained open to ship traffic following trading strikes over the weekend. These developments have occurred amid concerns that a ceasefire between the two nations may have collapsed, according to reports tracking the situation.

The price movement reflects investor concerns about potential disruption to global oil supply flows. The Strait of Hormuz serves as a passage for substantial volumes of international petroleum trade. Market participants responded to the announced blockade by adjusting positions, driving crude values higher in response to the stated policy change and heightened geopolitical tension in the region.