Oil Prices Soar as US Prepares Iran Strikes

0:00On April 30, oil prices shot up big-time Thursday in Asia after word leaked that the U.S. military's prepping to brief President Trump on fresh plans for hitting Iran hard. Brent crude climbed 5% to $124 a barrel, the highest mark since Russia's full invasion of Ukraine back in 20, 22. Earlier this week, prices already surged 6% on reports of an extended U.S. blockade of Iranian ports, all tied to threats against ships in the firstly, Strait of Hormuz, that key waterways basically shut down now, stalling peace talks and choking global energy flows. Traders reacted fast, with West Texas Intermediate Crew jumping 2.3% to around $109 a barrel. Folks are spooked by the deadlock, knowing any escalation could jack up gas prices worldwide and rattle economies. Details from sources point to U.S. Central Command, eyeing short, powerful strikes on Iranian infrastructure to bust a negotiation log jam.

1:01There's also talk of seizing part of the Strait of Hormuz to reopen it for shipping, maybe even boots on the ground. U.S. officials say the poor blockade stick as long as Iran keeps menacing vessels so keep eyes peeled on that Trump briefing, it could tip the scales. On whether we see fireworks or break through soon, that's the story for today. Global news today, driven by AI, I'm Corey with The Story.