Oil prices surged Thursday following a report that Iran’s supreme leader will not permit the country’s uranium to be exported.
U.S. crude oil increased nearly 4% to $101.96 per barrel, while the international benchmark Brent crude rose about 3% to $108.34.
President Donald Trump has said that dismantling Iran’s nuclear program is a top priority for the U.S. war effort after threatening Wednesday to resume military action if Iran does not give “100% good answers” during negotiations.
“We’re all ready to go,” Trump told reporters. “We have to get the right answers. It would have to be a complete 100% good answers.”
“If I can save war by waiting a couple of days, if I can save people being killed by waiting a couple of days, I think it’s a great thing to do,” the president said.
Meanwhile, ship traffic through the Strait of Hormuz remains heavily disrupted. The International Energy Agency warned on Thursday that the oil market might enter a “red zone” this summer if Hormuz stays closed.
By CEO NA Editorial Staff
