economy
April 29, 2026
New serious jump in oil prices
The price of Brent crude oil today exceeded 117 dollars per barrel due to rising geopolitical tensions around the Strait of Hormuz, as investors fear that this key transit passage for oil will remain closed for a longer period if the United States extends the blockade of Iranian ports.
TL;DR
- Brent crude oil price exceeded $117 per barrel.
- WTI crude oil price rose to $104.774.
- Geopolitical tensions around the Strait of Hormuz are increasing.
- Investors fear a prolonged closure of the Strait of Hormuz.
- US President Donald Trump threatened Iran on Truth Social.
- Trump plans to increase pressure on Iran's economy and oil exports by blockading its ports.
- The United Arab Emirates' decision to leave OPEC was also noted.
- Analysts believe the UAE's departure from OPEC will not have long-term consequences on energy prices.
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