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Oil Prices Jump as Trump Hints at Iran Withdrawal, Hormuz Closure Worries Markets
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Oil Surges as Trump Signals Early Iran Exit, Hormuz Shutdown Keeps Markets on Edge
M
Moneycontrol
•
01-04-2026, 07:47
Oil Surges as Trump Signals Early Iran Exit, Hormuz Shutdown Keeps Markets on Edge
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Crude oil prices extended gains, with Brent up 1.5% to $105.56 and WTI up 1.5% to $102.92.
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Trump indicated a possible early U.S. exit from Iran within "two or three weeks," stating "no reason for us to do this."
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The Strait of Hormuz, a critical shipping route handling 20% of global oil flows, remains largely shut due to escalating conflict.
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Oil prices surged sharply in March, with Brent gaining over 60% and WTI rising about 51% amid ongoing military hostilities.
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Iran's Islamic Revolutionary Guard Corps announced plans to target U.S. companies like Google, Microsoft, and Apple from Wednesday.
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