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Oil Prices Surge After Gunfire Reports Hit Ships in Hormuz Strait

Oil Prices Surge After Gunfire Reports Hit Ships in Hormuz Strait

Oil prices climbed sharply on Wednesday as reports of gunfire attacks hit at least three container ships in the Strait of Hormuz. Brent crude futures pushed above $100 a barrel, reversing earlier losses, with gains driven by heightened shipping and regional risk. Investors are now watching further developments for impact on global supply routes.

Summarised by Beize from a story on Republic on 24 Apr 2026
Oil prices slip as Trump announces indefinite Iran ceasefire extension, but Hormuz still tight

Oil prices slip as Trump announces indefinite Iran ceasefire extension, but Hormuz still tight

Oil prices eased Wednesday after President Donald Trump announced an indefinite extension of the U.S.-Iran ceasefire, reducing fears of an immediate Middle East supply shock. Brent fell to $97.42 and WTI to $88.53. However, the Strait of Hormuz remains largely constrained, with reports noting only three ships passed in the past 24 hours.

Summarised by Beize from a story on Republic on 24 Apr 2026

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Oil rebounds sharply after Strait of Hormuz closure sparks fresh crude surge

Oil rebounds sharply after Strait of Hormuz closure sparks fresh crude surge

Oil prices surged as the Strait of Hormuz reportedly closed again, reigniting supply disruption fears. Brent crude futures climbed $6.11 (6.76%) to $96.49 a barrel, while U.S. West Texas Intermediate rose $6.53 (7.79%) to $90.38 by 2327 GMT, reversing earlier declines and boosting sentiment across energy markets.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Oil prices plunge nearly 10% as Strait of Hormuz stays fully open in ceasefire

Oil prices plunge nearly 10% as Strait of Hormuz stays fully open in ceasefire

Oil prices crashed nearly 10% after Iran said the Strait of Hormuz was completely open during a US-Iran ceasefire. Brent crude and West Texas Intermediate fell sharply as perceived shipping risk eased. While the immediate shock faded, analysts warn volatility could return quickly if tensions flare or communications about access change.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Crude Oil Climbs Again Near 110 as Iran Tensions Threaten Supply Wallop

Crude Oil Climbs Again Near 110 as Iran Tensions Threaten Supply Wallop

Oil prices jumped for a fifth straight session as Middle East tensions rose, with Iran-related actions near the Strait of Hormuz and reports of air defense engagement stoking supply fears. Analysts warn that if U.S.-Iran talks stall, prices could surge further, potentially pushing Brent toward $150 per barrel.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Brent crude jumps above 90 as US Iran talks stall and Pakistan meeting fails to start

Brent crude jumps above 90 as US Iran talks stall and Pakistan meeting fails to start

Brent crude prices have surged past USD 90 per barrel as markets react to growing uncertainty surrounding a planned second round of US-Iran peace talks. Reports point to rising doubt over the timing and location, with the Pakistan meeting expected to kick off but still yet to take off. Traders are watching closely for any breakthrough.

Summarised by Beize from a story on Republic on 24 Apr 2026

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