Brent crude futures climbed more than $1 a barrel on Thursday following U.S. President Donald Trump's threat to attack ships laying mines in the Strait of Hormuz, casting doubt on the survival
Brent crude futures climbed more than $1 a barrel on Thursday following U.S. President Donald Trump's threat to attack ships laying mines in the Strait of Hormuz, casting doubt on the survival of a ceasefire in the war with Iran.
Brent crude futures were up $1.26, or 1.24%, to $103.17 a barrel at 9:19 a.m. CDT (1419 GMT) after settling above $100 for the first time in more than two weeks on Wednesday. West Texas Intermediate futures were up 72 cents, or 0.77%, at $93.68.
Iran flaunted its tightened grip over the Strait of Hormuz with video of its commandos storming a huge cargo ship, after the collapse of peace talks that Washington had hoped would open the world's most important shipping corridor.
Trump said in a post on the Truth Social site that he had ordered the U.S. Navy "to shoot and kill any boat" mining the strait.
Both benchmarks closed more than $3 higher on Wednesday after a lack of progress in the peace talks and larger-than-expected draws on U.S. stocks of gasoline and distillates.
"The market may now be on the verge of a shift from 'a deal is imminent' to 'this may take much longer.' If
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