{"id":55141,"date":"2026-03-03T06:20:26","date_gmt":"2026-03-03T06:20:26","guid":{"rendered":"https:\/\/gyalchisarshog.com\/?p=55141"},"modified":"2026-03-03T06:20:32","modified_gmt":"2026-03-03T06:20:32","slug":"oil-prices-extend-gains-after-iran-makes-new-threat-to-gulf-shipping","status":"publish","type":"post","link":"https:\/\/gyalchisarshog.com\/?p=55141","title":{"rendered":"Oil prices extend gains after Iran makes new threat to Gulf shipping"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">BBC:   <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oil prices made more gains on Tuesday after an Iranian official said his country will &#8220;set fire to anyone who tries to pass through&#8221; the Strait of Hormuz as the\u00a0<a href=\"https:\/\/www.bbc.com\/news\/articles\/cx2dyz6p3weo\">conflict between his country and the US and Israel<\/a>\u00a0continues<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In afternoon trade in Asia, Brent crude was around 3.2% higher at more than $80 (\u00a359.67) a barrel, while US-traded oil was up by about 2.6%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It comes after&nbsp;<a href=\"https:\/\/www.bbc.com\/news\/articles\/c75evve6l63o\">oil and gas prices surged on Monday<\/a>&nbsp;and as the US government is set to announce plans to deal with the rising cost of energy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The narrow strait is crucial to the global economy as about 20% of the world&#8217;s oil and gas passes through it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking on state TV, Ebrahim Jabbari, who is an adviser to the Commander-in-Chief of Iran&#8217;s Islamic Revolutionary Guard Corps (IRGC), said ships &#8220;should not come to this region. They will certainly face a serious response from us.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shipping through the Strait of Hormuz has come to a halt after several vessels were attacked in recent days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As well as pushing up prices on global energy markets, the conflict has triggered a rise in how much its costs to transport oil.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The cost of hiring a supertanker to move oil from the Middle East to China reached an all-time high on Monday of more than $400,000 (\u00a3298,300).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That is almost double what it was last week, according to data from the London Stock Exchange Group.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">US President Trump is facing&nbsp;<a href=\"https:\/\/www.bbc.com\/news\/articles\/c20zgjzz0e4o\">concerns that the conflict in the Middle East in the region could push up the cost of living<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Trump is scheduled to meet Treasury Secretary Scott Bessent and Energy Secretary Chris Wright on Tuesday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Secretary of State Marco Rubio said Washington will announce plans to deal with rising energy prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BBC: Oil prices made more gains on Tuesday after an Iranian official said his country will &#8220;set fire to anyone who tries to pass through&#8221; the Strait of Hormuz as the\u00a0conflict between his country and the US and Israel\u00a0continues In afternoon trade in Asia, Brent crude was around 3.2% higher at more than $80 (\u00a359.67) a barrel, while US-traded oil was up by about 2.6%. It comes after&nbsp;oil and gas prices surged on Monday&nbsp;and as the US government is set to announce plans to deal with the rising cost of energy. The narrow strait is crucial to the global economy&#8230; <\/p>\n","protected":false},"author":1,"featured_media":55142,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-55141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/55141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55141"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/55141\/revisions"}],"predecessor-version":[{"id":55143,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/55141\/revisions\/55143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/55142"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}