Oil Prices Soar as Iran Standoff Shows No End in Sight
Oil prices push higher, approaching another wartime high, as President Trump asserted that the naval blockade of Iran’s ports would persist.
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Oil price soars to highest price since 2022 as US-Iran impasse shows no sign of resolution
Oil markets spooked as Donald Trump appears willing to maintain the US Navy blockade and Iran’s keeps strait of Hormuz all but shut The price of Brent oil soared above $122 a barrel on Wednesday, its highest level since 2022, as US-Iran ceasefire negotiations stalled and the critical strait of Hormuz remained effectively closed. In a one-day surge of almost 10%, the price of Brent crude hit the highest level since the war began, tipping past $122 before settling about $120. Not since Russia’s 2022 invasion of Ukraine has Brent topped $120.
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Brent crude crosses USD 120 after Trump says Hormuz blockade will continue till Iran agrees to deal
New Delhi [India], April 30 (ANI): Brent crude oil prices surged above USD 120 per barrel on Thursday after US President Donald Trump said the naval blockade of the Strait of Hormuz will continue until Iran agrees to a deal with the United States. In an exclusive interview with Axios on Wednesday, Trump said the blockade is being used as a key tool to pressure Iran over its nuclear programme.
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No deal unless no nukes: Trump calls US naval blockade against Iran 'genius'; CENTCOM says 42 ships turned back
Washington DC [US], April 30 (ANI): US President Donald Trump on Wednesday described the ongoing US naval blockade against Iran as 'genius,' asserting that Tehran would have to concede defeat while ruling out any agreement unless it abandons its nuclear ambitions. 'The blockade is genius. The blockade has been 100% foolproof.
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US proposes new coalition to get ships moving through Hormuz: Report
US proposes new coalition to get ships moving through Hormuz: Report The US has pitched a new international coalition, dubbed the "Maritime Freedom Construct", to enable navigation through the Strait of Hormuz, the Wal Street Journal reported. The proposed coalition would "share information, coordinate diplomatically and enforce sanctions", according to an internal State Department cable.
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Trump rejects Iran's offer, says blockade to remain until US concerns about nuclear program addressed: Axios
Washington DC [US], April 29 (ANI): US President Donald Trump in an exclusive interview to Axios on Wednesday, said that he would continue to keep the naval blockade until Iran agrees to deal with the United States by addressing America's concerns about the nuclear program.
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Trump calls UAE exit from OPEC ‘great’, says it could lower prices
Trump calls UAE exit from OPEC ‘great’, says it could lower prices US President Donald Trump praised the United Arab Emirates’ decision to leave OPEC, calling it “great” and saying it could help ease volatile energy markets. He said the move may contribute to lowering oil and gasoline prices amid disruptions linked to the Iran war. “I think ultimately it’s a good thing for getting the price of gas down, getting oil down, getting everything down,” Trump told reporters.
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Testing the Waters
Iran has threatened to start charging a toll for passage through the Strait of Hormuz. Even if it never happens, the idea could unsettle global shipping.
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Iran says US blockade not disrupting oil supply
Iran says US blockade not disrupting oil supply Iran’s Oil Minister Mohsen Paknejad said the US naval blockade of Iranian ports has not affected the country’s fuel supply or distribution. In comments carried by state media, he said oil workers are operating around the clock to prevent disruptions. The blockade, in place since April 13, has raised concerns Iran could run out of storage capacity and be forced to reduce production.
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Trump says Iran is 'choking like a stuffed pig', as he mulls extending blockade
Trump says Iran is 'choking like a stuffed pig', as he mulls extending blockade Submitted by MEE staff on Wed, 04/29/2026 - 18:56 The US president appeared to reject an Iranian proposal to end the war that would have deferred talks on its nuclear programme US President Donald Trump speaks during an event with the Artemis II astronauts in the Oval Office of the White House in Washington, DC, on 29 April 2026 (Andrew Harnik/Getty Images/AFP) Off US President Donald Trump on Wednesday rejected an Iranian peace proposal to lift competing blockades of the Strait of Hormuz and defer nuclear talks to a later date, as the US-Israeli war on the Islamic Republic shows no sign of ending. Several US media outlets reported that the White House is mulling extending its naval blockade of Iran for months and that US oil executives were briefed on the plan in a meeting with Trump. Oil prices, which have become a metric for the prospects of a peace deal, surged on the news.
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The Guardian view on the UAE quitting Opec: whatever importers pay, the price of fossil fuels is too high | Editorial
The world must accelerate the shift to renewables, regardless of the economic effects of Abu Dhabi’s decision Opec appears to be the latest casualty of the Iran war. On Tuesday, the United Arab Emirates announced that it was leaving the oil cartel after 60 years. The loss of a critical member is a blow to the group and its de facto leader, Saudi Arabia, in the midst of the biggest supply crisis in history.
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Iran crisis a wake-up call for India to push indigenous semiconductor design, says L&T's Sanjay Gupta
New Delhi [India], April 29 (ANI): The disruption caused by the Iran conflict should serve as a catalyst for India to accelerate its push for indigenous semiconductor design and sovereign electronics, said Sanjay Gupta, Chief Development Officer and Global Head of Engineering at L&T Semiconductor Technologies.
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Trump mulling extended Iran blockade as approval rating falls - media
The US president sees the option as preferable to active hostilities or a retreat, even as gas prices continue to grow, according to the WSJ US President Donald Trump has ordered a plan to prolong the blockade of Iranian ports in a bid to pressure Tehran towards a more favorable peace deal, despite
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Trump mulling extended Iran blockade as approval rating falls media
The US president sees the option as preferable to active hostilities or a retreat, even as gas prices continue to grow, according to the WSJ US President Donald Trump has ordered a plan to prolong the blockade of Iranian ports in a bid to pressure Tehran towards a more favorable peace deal, despite his approval rating hitting record lows, the Wall Street Journal has reported, citing sources.
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Iran's rial drops to record low
Iran's rial drops to record low Iran's currency dropped to a record low of 1,810,000 rials to the US dollar on Wednesday, the Iranian Student News Agency (Isna) said. The rial has seen its value fall by nearly 15 percent in the last two days according to Isna, after experiencing weeks of stability as demand for other currencies was inhibited due to war conditions and Iranian New Year holidays. A ceasefire between the US and Iran has been in place since 8 April, with Washington reverting to a policy of economic pressure by imposing a blockade on shipping to and from Iranian ports in the Gulf, making it harder for Iran to gain hard currency via exports.
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Israeli defence minister sanctions Gaza aid flotilla
Israeli defence minister sanctions Gaza aid flotilla Israel's Defence Minister, Israel Katz, signed an order to impose sanctions against the fundraising campaign of the Global Sumud Flotilla sailing toward the Gaza Strip to break the Israeli blockade and deliver continuous humanitarian aid. The ministry claimed in a statement that the flotilla, which includes about 100 vessels that left from Turkey, Spain, and Italy, violates UN resolutions and undermines the Trump administration's regional settlement efforts. The ceasefire agreement of 10 October 2025 stipulates that “full aid will be immediately sent into the Gaza Strip,” but Israel is allowing only a fraction of the promised aid deliveries while blocking essential and nutritious food items.
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Iran currency plunges as dollar crosses 1.8 million in open market
The US dollar passed 1. 81 million rials on Iran’s open market on Wednesday, rising nearly 8% in a single day as the country’s economic crisis worsened under the strain of maritime blockade, stalled diplomacy and mounting pressure on households.
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U.S. Gas Prices Climb Further as Effects of War Reverberate
The national average price of a gallon of gasoline hit $4. 23, following oil prices upward as supplies from the Middle East remain disrupted.
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Iran rial hits record low against dollar amid US blockade
Iran rial hits record low against dollar amid US blockade The Iranian rial plummeted to a record low against the dollar on Wednesday, according to currency-tracking websites, as a US naval blockade of the country's ports continued. On the black market, the rial was trading at around 1. 8m rials against the dollar, the Bonbast and AlanChand websites reported.
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US in stagflation for first time in decades 2008 crash prophet
Ray Dalios warning comes amid a consumer price hike triggered by the Iran war and an economic downturn The US has slipped into stagflation for the first time in decades, billionaire hedge fund boss Ray Dalio has said. The assessment comes despite the Federal Reserve's insistence that the term overstates the current crisis, caused in large part by the war on Iran.
