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Oil prices jump as US, Iran trade fire in Strait of Hormuz
Key takeaways
- Brent crude rises amid clashes in critical waterway.
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- Futures for Brent crude rose as much as 7.5 percent during a volatile trading session on Thursday, before easing as Asia’s markets opened on Friday morning.
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Brent crude rises amid clashes in critical waterway.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo. A boat sails past a tanker anchored on the Strait of Hormuz off the coast of Qeshm Island, Iran, on April 18, 2026 [Asghar Besharati/AP Photo]By John Power Published On 8 May 20268 May 2026Oil prices have jumped after clashes between the United States and Iran in the Strait of Hormuz tested their tenuous ceasefire.
Futures for Brent crude rose as much as 7.5 percent during a volatile trading session on Thursday, before easing as Asia’s markets opened on Friday morning.
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