Oil Prices Surge as Iran-US Tensions Escalate

0:00It's April 23rd. This is U.S. News Today, driven by AI tracking America in real-time. Oil prices spike 3% today after reports that Iran's parliament speaker Muhammad Bhagra Ghaliba resigned. He stepped down over fears of too much meddling from revolutionary guard generals who blocked the Katari plan to calm things in the strait of Hormuz. One crude hit, $104.79 a barrel, by 205 PM Eastern Time, and West Texas Intermediate Climb 2, $95.95. Tensions keep pushing prices up, as the U.S. and Iran squeezed trade through that key waterway. Iran grabbed two ships there on Wednesday, flexing its control even more. Meanwhile, President Trump is holding a navy blockade on Iran's sea trade, and Ghaliba had argued a full ceasefire only works if that ends. Folks are watching how this hits global shipping and energy costs. On the follow-up, U.S. forces intercepted at least three Iranian tankers in Asian waters,

1:02near India, Malaysia, and Sri Lanka, redirecting them away. Trump extended the ceasefire Tuesday, backing off threats to hit Iran's power plants and bridges, but he has ennamed an end date. Market-state jittery with no clear resolution, so keep an eye on Hormuz as these moves ripple through oil flows worldwide.