3 hours ago Oil prices rise as Trump threatens more attacks on Iran, meets with producers to increase supply Oil prices rose on Tuesday as President Donald Trump threatened new attacks on Iran and two oil tankers were hit near the Strait of Hormuz. Trump is scheduled to meet with oil producers on Tuesday as his administration works to increase U.S. and Venezuelan production and offset potential losses related to the conflict. Oil prices rose about 2% on Tuesday. 2.47% to $87.88, while Brent crude futures (Middle East supply) rose $1.72, or 1.9%, to $92.21 a barrel. late July, raising concerns about disruptions to global oil supplies. “Renewed hostilities between the United States and Iran have raised concerns about prolonged disruptions to energy flows through the Strait of Hormuz,” said Ole Hansen, an analyst at Saxo Bank, adding that the lack of subsequent purchases suggests the market is betting on supplies not being disrupted any more than they already are. last week for the upcoming reopening of the Strait of Hormuz to maritime transport. The question is also whether, in the event of a new escalation, unofficial maritime traffic through the strait will be able to continue unhindered,” Commerzbank analysts wrote. Reuters contributed to this report.
