web counter
LEXO PA REKLAMA!

SHKARKO APP

App Store
Google Play

Expanded blockade on Iran/Oil price continues to rise

2026-04-29 16:29:00, Kosova & Bota CNA

Expanded blockade on Iran/Oil price continues to rise

Oil prices have continued to rise following reports that the US is preparing for an "expanded" blockade on Iran.

Brent crude rose to around $116.98 a barrel on Wednesday afternoon, the highest price so far this month, after closing at just over $110 (£81) on Tuesday evening.

This comes after reports from the Wall Street Journal that US President Donald Trump has instructed aides to prepare to extend the ongoing blockade of Iran's ports, in an effort to squeeze the country's economy.

Iran has said it will continue to cut off traffic passing through the Strait of Hormuz in response to the US blockade.

The price of oil has seen significant fluctuations since the start of the war, as the key Strait of Hormuz has been effectively closed for weeks due to the conflict.

Iran has severely restricted maritime transport through the Strait, which usually carries about a fifth of the world's supply of oil and liquefied natural gas, in response to US and Israeli attacks that began on February 28.

Earlier this month, Tehran warned that any ship approaching the strait would be targeted.

The US then announced that its forces would intervene or turn back ships traveling to or from Iranian ports.

Analysis by BBC Verify shows that at least four ships tracked from Iranian ports appear to have crossed the US blockade line.

Despite the fluctuations of recent weeks, the price of oil remains much higher than the price of a barrel before the conflict.

The price of Brent crude fell to $90 a barrel on April 17 after a ceasefire was announced between Israel and Lebanon. The US said it would halt attacks on Iran on April 8. It remains well above the price of a barrel before the conflict.

However, the price of oil has risen steadily over the past 12 days as the US continued its blockade./CNA, translated by BBC





Lajmet e fundit nga