Trump Announces Extension of Ceasefire with Iran
Darwin, 22 April : Amid ongoing tensions, U.S. President Donald Trump has announced an extension of the ceasefire with Iran, while maintaining a strict naval…
Darwin, 23 March : Global oil prices climbed on Monday following a 48-hour ultimatum issued by Donald Trump demanding Iran reopen the Strait of Hormuz, alongside Israel’s warning that the ongoing war could last for weeks.
Trump cautioned that if the vital shipping route is not reopened within the deadline, the United States would move to destroy Iran’s energy infrastructure. At the same time, Israeli officials signaled that military operations are likely to continue, further escalating tensions in the region.
According to Agence France-Presse (AFP), oil markets reacted immediately after opening late Sunday. U.S. benchmark crude, West Texas Intermediate (WTI) for May delivery, surged by 1.8 percent, briefly pushing prices above $100 per barrel before easing slightly.
Similarly, North Sea Brent crude for May delivery rose by the same margin, reaching $113.44 per barrel. However, within 45 minutes of trading, prices stabilized near $111 per barrel.
The sharp rise marks a significant jump from pre-conflict levels. On February 27, just before the onset of U.S.-Israeli strikes on Iran, WTI and Brent crude were trading at $67.02 and $72.48 per barrel respectively.
The latest developments highlight growing fears in global markets that prolonged conflict and disruptions in the Strait of Hormuz—one of the world’s most critical oil transit routes—could severely impact energy supplies worldwide.
Related News
EU Moves Toward Suspending Cooperation, Sanctions on Israel and Ukraine Loan
Darwin, 21 April: European Union officials have said they expect progress this week on key issues related to Ukraine and Israel after Hungarian Prime Minister…
Spain Calls on EU to Cancel Agreement with Israel
Darwin, 20 April : Spain will request the European Union (EU) to formally terminate its existing Association Agreement with Israel, Prime Minister Pedro Sánchez has…
No plans for renewed talks with the United States: Iran
Darwin, 20 April : Iran’s Foreign Ministry spokesperson said on Monday that Tehran currently has no plans for a second round of talks with the…
Father kills 8 children, including his own 7, in Louisiana shooting
Darwin, 20 April : A man shot and killed eight children — seven of them his own — in Shreveport, before being fatally shot by…
Bangladesh to Take Steps for Chinmoy Krishna’s Release
Darwin, 19 April: Bangladesh’s Minister of Cultural Affairs, Advocate Nitai Roy Chowdhury, has said that necessary steps will be taken for the swift release of…
U.S. forces preparing to seize Iranian vessels
Darwin, 19 April: The United States military is preparing to inspect and seize Iranian-linked oil tankers and commercial vessels in international waters. According to a…
Australia signs $7bn warship deal with Japan
Darwin, 19 April: Australia and Japan have signed a landmark $7 billion agreement for the supply of advanced warships, marking a significant step toward strengthening…
