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Oil prices rise amid US threats of sanctions on Iran's trading partners
Oil prices rose on Friday following threats from US President Donald Trump to impose economic sanctions on Iran’s trading partners. The move has heightened expectations of tighter global supply. Brent crude settled at $94.39 per barrel, while West Texas Intermediate (WTI) settled at $87.06 per barrel. Both benchmarks saw weekly gains of over 5 percent.
In response to the US stance, Iran warned that any new threats would result in a ‘devastating’ response. However, Iranian President Masoud Pezeshkian made calls for an end to the conflict, acknowledging the financial toll and criticizing domestic hardliners.
Analysts noted that while the US naval blockade already heavily constrains Iranian exports, the threat of increased maritime incidents in the Strait of Hormuz remains a concern. Some experts suggested the impact on supply might be mitigated by alternative sources, including US shale, pipelines, and production from the United Arab Emirates and Venezuela.
Entities
Donald Trump · Iran · Masoud Pezeshkian · Strait of Hormuz · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Brent crude futures settled at $94.39 per barrel. www.businesstimes.com.sg · www.europesays.com · lajornadasanluis.com.mx · shipandbunker.com
- [● 4 SOURCES] The immediate impact on supply may be limited because Iranian exports are already heavily constrained by a US naval blockade. www.businesstimes.com.sg · www.europesays.com · lajornadasanluis.com.mx · shipandbunker.com
- [○ 1 SOURCE] The Mexican export blend rose 90 cents to close at $84.71 per barrel. lajornadasanluis.com.mx
- [● 4 SOURCES] West Texas Intermediate (WTI) crude settled at $87.06 per barrel. www.businesstimes.com.sg · www.europesays.com · lajornadasanluis.com.mx · shipandbunker.com
- [● 2 SOURCES] Iranian President Masoud Pezeshkian called for an end to the conflict between Iran and the US. www.europesays.com · shipandbunker.com
- [● 2 SOURCES] Iran stated its response to new US threats would be ‘devastating’. www.businesstimes.com.sg · lajornadasanluis.com.mx
- [● 3 SOURCES] Alternative supplies such as US shale, pipelines, and production from the UAE and Venezuela are mitigating Strait of Hormuz constraints. www.businesstimes.com.sg · www.europesays.com · shipandbunker.com
- [● 2 SOURCES] US President Donald Trump threatened to impose economic sanctions on Iran’s trading partners. www.businesstimes.com.sg · lajornadasanluis.com.mx