Clicky
World, Power, Energy, Oil, Gas, WAR

Oil prices rise despite Trump hinting at possible end to war


 
By   Online Desk with AP
Published : 02 Apr 2026 07:43 PM

The conflict is driving up prices for oil and natural gas, roiling stock markets, pushing up the cost of gasoline and threatening to make a range of goods, including food, more expensive.

On Thursday, Brent crude, the international standard, rose again and was at $108 in spot trading, up about 50% from Feb. 28 when Israel and the U.S. started the war.

Though the oil and gas that typically transits the strait is primarily sold to Asian nations, Japan and South Korea were the only two countries from the region joining Thursday's call about the strait.

The supply of jet fuel has also been interrupted by the conflict, with consequences for travel worldwide.