Kathmandu. Global oil prices have jumped since US President Donald Trump’s White House address. His speech focused on the ongoing war with Iran.
Before Trump began his speech, the price of benchmark Brent crude oil was about $100 per barrel. However, it was fluctuating during the speech. Oil prices rose 4 percent to $105.38 after the address ended.
Trump was expected to make an announcement about the Strait of Hormuz. However, the price of oil has been rising due to no update on this.
The Strait of Hormuz is vital to the global economy. Because about 20 percent of the world’s energy trade passes through this sea route.
The route has been virtually closed since the war began on Brewery 28. Iran has threatened to attack ships passing through it in response to US and Israeli air strikes. –Agency
