"Global crude oil prices" continue to surge, with Brent surpassing $111. The US is poised to expand its blockade of Iran.

"Global crude oil prices" continue to surge, with Brent surpassing $111 after Trump prepared to expand the blockade against Iran, putting pressure on energy exports.

April 29, 2569 at 09.06:XNUMX p.m., Reuters reported that Oil prices continued to rise on Wednesday, extending a series of upward trends. Following reports that Donald Trump is likely to expand the blockade of Iranian ports, this could further exacerbate supply disruptions from the Middle East.

The Wall Street Journal reported specify that Trump has instructed his team to prepare a plan for a long-term blockade, aimed at pressuring Iran's economy and oil exports through restrictions on shipments into and out of ports.

side Brent crude oil price for June delivery. The price increased by 0.47% to $111.78 per barrel, marking the eighth consecutive day of increases. US West Texas Intermediate (WTI) crude oil futures. It increased by 0.57% to $100.50 per barrel. Analysts believe the main factor is the closure of energy transportation routes.

Although the fighting between the United States and Iran is in a ceasefire, tensions have not eased. Iran has closed shipping lanes through the Strait of Hormuz, a waterway used for approximately 20% of the world's oil and natural gas shipments, while the United States has imposed a blockade on Iranian ports, keeping the global energy supply chain tight.

meanwhile Information from the American Petroleum Institute. specify that U.S. crude oil inventories fell for the second consecutive week, reflecting continued high demand for oil. Crude oil stockpiles decreased by approximately 1.79 million barrels, while gasoline and distillate fuel prices also declined.

refer : www.reuters.com

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