00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Oil prices jumped as President Trump warned of further U.S. military action against Iran
00:06within two to three weeks, reducing expectations for de-escalation, according to CNBC.
00:11West Texas Intermediate crude for May rose 7.8% to $107.99, while Brent crude for June
00:17gained 7.3% to $108.63.
00:20Trump said oil prices rose because Iran launched attacks on commercial oil tankers and neighboring
00:25countries.
00:26He said the U.S. will hit Iran extremely hard within two to three weeks, while
00:29stating the war will be short, and discussions with Tehran are ongoing.
00:33Analysts said markets expected either a war exit or escalation, and are now pricing in
00:37prolonged uncertainty.
00:38Traffic through the Strait of Hormuz has halted since February 28, disrupting global supply.
00:43Iran denied ceasefire requests and said the waterway remains under its control, while both
00:48sides continue to issue conflicting statements on negotiations.
00:51For all things money, visit Benzinga.com.
Comments