Oil Nears $100 as Trump's 'Economic D-Day' Campaign Raises Geopolitical Stakes

Source Summary

Brent crude is trading near $94 per barrel as transits through the Strait of Hormuz remain at single-digit levels following Trump's announcement of an 'Economic D-Day' campaign against Iran. The geopolitical tensions have increased risk premiums in energy markets, with Asian LNG prices at $24 per MMBtu and VLCC freight rates elevated. Oil prices are gradually moving toward the $100-per-barrel level.