Trump says no Iran deal needed as oil prices pick up on Hormuz tension
Oil prices are picking up Thursday after Trump said the United States no longer needs a deal with Iran, dampening a week of ceasefire hopes that had been pulling a risk premium out of crude. Brent is trading up 1.96% at $94.58 a barrel and West Texas Intermediate up 1.33% at $87.68, according to live market data, with the session's move tracing directly to his Truth Social post.
Key takeaways Brent crude traded up 1.96% at $94.58 and WTI up 1.33% at $87.68 on Thursday after Trump said the US needs no Iran deal and "we've got their Strait." The remark reverses a week-long fade built on hopes a truce would ease Strait of Hormuz supply risk. Tankers, insurers and refiners bear the repriced premi…
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