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Oil Rises Above $106 as US, Iran Deadlock Continues in Strait of Hormuz
Escalating Tensions in Strait of Hormuz Drive Oil Prices Up
International oil prices have surged above $106 per barrel as the standoff between the United States and Iran in the Strait of Hormuz persists. Remarks by US President Donald Trump have further heightened tensions. The Strait of Hormuz, a critical maritime route in the Middle East, is a key artery for global oil supply, and instability in the region directly impacts international oil prices.
Trump Demands US Navy Permission for Strait Transit
Donald Trump, the US President, has stated that vessels will require permission from the US Navy to transit the Strait of Hormuz. This move is seen as an effort to intensify pressure on Iran and expand American influence within the strait. Such declarations are further deepening the confrontation between the United States and Iran over the waterway, serving as a primary factor behind the recent rise in oil prices.
*Source: Al Jazeera (2026-04-24)*
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