One click know world 20 April 2026
business- Oil rises 5% on renewed US-Iran tension Oil prices jumped more than 5% on Monday, on fears that the ceasefire between the United States and Iran could collapse after the U.S. seized an Iranian cargo ship, while traffic through the Strait of Hormuz stayed largely halted.
Brent crude futures advanced $5.08, or 5.62%, to $95.46 a barrel by 0418 GMT and U.S. West Texas Intermediate was at $88.86 a barrel, up $5.01, or 5.97%.
Both contracts tumbled by 9% on Friday, their largest daily declines since April 18, after Iran said passage for all commercial vessels through the Strait of Hormuz was open for the remaining ceasefire period and U.S. President Donald Trump said Iran has agreed to never close the strait again.
