General · 20 April 2026
Oil prices jump as US seizes Iranian ship
Global energy prices have climbed significantly, triggering a global energy crisis and impacting countries, especially Asia, reliant on shipments through the Strait of Hormuz. President Donald Trump announced the US intercepted and seized an Iran-flagged cargo ship on Monday morning in Asia. Brent crude futures rose by 4.74% to $94.66 a barrel, while West Texas Intermediate was 5.6% higher.
Reported by BBC · How we write briefs