Oil hovers near $110 as Trump deadline on Hormuz looms

Middle East Eye · April 7, 2026 Sanctions

Oil hovers near $110 as Trump deadline on Hormuz looms Oil prices hovered around $110 a barrel on Tuesday as a deadline set by US President Donald Trump for Iran to reopen the Strait of Hormuz approached. The international oil benchmark Brent crude hovered around $108. 82 a barrel.