Oil Prices Soar as Iran-US Tensions Escalate

0:00On April 20th, oil prices jumped this morning after the U.S. seized an Iran-flagged cargo ship in the Strait of Hormuz. Iran announced its closing the key waterway again to commercial traffic, threatening any approaching vessels. Brent Crude climbed 4.74% to $94.66 a barrel while West Texas Intermediate Rose 5.6% to $88.55. Meanwhile, President Trump revealed U.S. reps headed to Pakistan today for talks, led by Vice President JD Vance. Iran's state media shot back, saying no plans to join right now, though their stance stays unclear. The spike hits hard amid the ongoing conflict, with the Strait shut down Sunday after Iran's revolutionary guard ended a brief reopening over the U.S. naval blockade. Markets have swung wild since the war kicked off, pushing prices from under $70 to nearly $120 a barrel. Asia feels the pain most, relying on the Strait for 90% of its energy shipments, leading

1:02to fuel shortages, work from home orders, shorter. Weeks, and even air conditioning cutbacks in places like Singapore and Thailand, China capped fuel hikes despite a 20% jump, airlines slashed flights, and the International Energy Agency warned Europe might have just six. Weeks of jet fuel left. Even similar as negotiations play out, but oil flows stay blocked, keeping global energy on edge, with no quick fix in sight. From around the world, powered by AI, this is Global News Today.