Brent Crude Climbs to $119.50 a Barrel, Highest Level Since 2022

Trump said the U.S. will maintain its maritime blockade on Iran until a nuclear deal, while military-option reports and IEA warnings pushed oil sharply higher and pressured risk assets including Bitcoin and Ether.

BTC

20d ago

Fact Check

Reuters' article "トランプ氏、長期的なイラン港湾封鎖の準備指示＝米報道" supports the first part of the claim: there was a report, attributed to the Wall Street Journal, that Trump told aides to prepare for a prolonged blockade of Iranian ports. The market-reaction part is supported by Odaily's report "美、布两油短线持续回落，已完全回吐特朗普拟延长对伊朗封锁消息公布以来的涨幅," which specifically says WTI and Brent reversed gains and were still above $100 per barrel at $100.71 and $103.2. However, because the price data comes through Odaily citing Gate data rather than a directly fetched Gate or exchange source, confidence is only medium. The wording "coincided with" is also correlation rather than proof of causation, and the fetched sources support coincidence more clearly than direct causation.

Summary

Brent crude rose sharply amid escalating Iran-related tensions, with one report putting it at $119.50 a barrel, the highest level of the Iran war and since 2022, while other snapshots cited moves to $115, $126, or as much as 5% intraday before reversing. Trump said the United States would keep its maritime blockade on Iran until Tehran agrees to a nuclear deal, rejecting Iran’s proposal to first lift the blockade and restore shipping through the Strait of Hormuz before delaying talks. Separate reports said Trump had prepared or was being briefed on military options, including a possible "short and powerful" wave of strikes, adding to market fears over energy supply and regional escalation. The source says the International Energy Agency described the situation as the "biggest energy security threat in history." Markets reacted with broad volatility: U.S. stocks fell, Bitcoin dropped 2.1%, ether fell 3.4%, and later Gate data showed WTI at $100.71 and Brent at $103.2, both down about 0.6% on the day.

Terms & Concepts

Brent crude: A global oil benchmark used to price much of the world’s internationally traded crude oil.
Strait of Hormuz: A narrow waterway between the Persian Gulf and the Gulf of Oman that is critical for global oil shipments and handles a significant share of seaborne crude trade.
Risk-off: A market mood in which investors reduce exposure to volatile assets and move more cautiously during uncertainty.