Oil prices jump after Trump says no Iran deal needed: 'We've got their Strait'
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Oil prices jumped Thursday after President Donald Trump said the U.S. does not need a deal with Iran, remarking “We’ve got their Strait,” which renewed concerns that the U.S.-Iran conflict will not end soon. The comments rattled energy markets already sensitive to disruptions around the Strait of Hormuz, a key chokepoint for global crude shipments. Traders are watching whether the rhetoric translates into sustained risk premiums in crude benchmarks and whether shipping and insurance costs rise further.
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Named in this story
Donald Trump, oil (OIL), Iran, Strait of Hormuz
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