US threats against Iran have driven Brent crude oil prices above $119 per barrel, raising concerns over long-term energy supply disruptions and global economic impacts.
Iran accuses the US of violating a ceasefire after US forces seized an Iranian cargo ship in the Strait of Hormuz, heightening geopolitical and economic risks.
The US has extended the suspension of sanctions on Russian oil shipments until May 16, impacting global energy markets and Russia’s oil revenue amid ongoing geopolitical tensions.
President Trump rejects NATO assistance in the Strait of Hormuz, while European nations prepare a peacekeeping mission amid ongoing Middle East tensions.