{"id":126241,"date":"2026-04-24T09:40:00","date_gmt":"2026-04-24T05:40:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126241"},"modified":"2026-04-24T09:28:54","modified_gmt":"2026-04-24T05:28:54","slug":"oil-surges-as-trump-digs-in-no-rush-to-end-iran-war-sends-crude-soaring","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-surges-as-trump-digs-in-no-rush-to-end-iran-war-sends-crude-soaring\/04\/24\/market-updates\/","title":{"rendered":"Oil Surges as Trump Digs In: &#8220;No Rush&#8221; to End Iran War Sends Crude Soaring"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Prices climb:<\/strong> Brent crude rose 1.1% to $106.27\/barrel; WTI gained 1% to $96.83\/barrel, with both benchmarks set to end the week 15%\u201318% higher.<\/li>\n\n\n\n<li><strong>Trump&#8217;s tough line:<\/strong> The president said he&#8217;s in &#8220;no rush&#8221; to reach a deal with Iran, while ruling out nuclear weapons and claiming U.S. strikes have crippled Iranian military capabilities.<\/li>\n\n\n\n<li><strong>Diplomacy stalls:<\/strong> Pakistan-brokered talks collapsed after Tehran&#8217;s lead negotiator stepped down, leaving both sides at an impasse over the Strait of Hormuz and the U.S. naval blockade.<\/li>\n\n\n\n<li><strong>Hormuz in the spotlight:<\/strong> The strategic waterway \u2014 which handled roughly 20% of global oil supplies before its February closure \u2014 has become the central flashpoint, with both nations seizing each other&#8217;s vessels.<\/li>\n\n\n\n<li><strong>Limited relief elsewhere:<\/strong> A three-week extension of the Israel\u2013Lebanon ceasefire did little to calm markets amid the broader regional crisis.<\/li>\n<\/ul>\n\n\n\n<p>Oil prices climbed during Asian trading on Friday as anxieties mounted over a drawn-out confrontation between the United States and Iran, following President Donald Trump&#8217;s declaration that he felt no urgency to bring the conflict to a close.<\/p>\n\n\n\n<p>Crude was on track for substantial weekly gains, driven by persistent tensions between Washington and Tehran and ongoing supply bottlenecks in the Strait of Hormuz that showed little sign of easing.<\/p>\n\n\n\n<p>Brent crude futures advanced 1.1% to reach $106.27 per barrel, while West Texas Intermediate crude futures gained 1% to settle at $96.83 per barrel as of 20:37 ET (00:37 GMT). Both benchmarks were poised to finish the week between 15% and 18% higher.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Trump&#8217;s Hardline Stance Rattles Markets<\/h2>\n\n\n\n<p>Crude had already posted sharp gains on Thursday after reports emerged of airstrikes targeting locations in and around Iran. Adding to the uncertainty, sources indicated that Tehran&#8217;s chief negotiator in the Pakistan-mediated discussions with Washington had resigned from his post.<\/p>\n\n\n\n<p>Speaking to reporters on Thursday evening, Trump stated he had no intention of &#8220;rushing&#8221; into any agreement with Iran, while also dismissing the possibility of deploying nuclear weapons.<\/p>\n\n\n\n<p>The president reiterated his assertions that American forces had devastated Iran&#8217;s military infrastructure, leaving the country in chaos. These remarks intensified worries about an extended standoff that could throw Middle Eastern oil supplies into prolonged uncertainty.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ceasefire Extensions Offer Little Comfort<\/h2>\n\n\n\n<p>Trump also announced that Israel and Lebanon had consented to a three-week prolongation of their ceasefire following negotiations in Washington \u2014 though this development did little to calm jittery markets.<\/p>\n\n\n\n<p>Oil markets drew most of their momentum from the absence of any genuine de-escalation in the U.S.-Israel campaign against Iran, despite Washington&#8217;s indefinite extension of its ceasefire with Tehran earlier in the week.<\/p>\n\n\n\n<p>That extension emerged as broader peace negotiations between the two nations effectively fell apart, undermined by fundamental disagreements \u2014 Iran demanding the reopening of Hormuz, and the U.S. refusing to lift its naval blockade.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Hormuz Standoff Deepens<\/h2>\n\n\n\n<p>Throughout the week, Iran was reported to be intercepting and seizing vessels attempting to navigate the strategic waterway, while American forces claimed to have captured Iranian ships attempting to break through the blockade.<\/p>\n\n\n\n<p>Tehran also circulated footage of its special forces boarding a vessel and publicized the capabilities of its speedboat fleet in conducting operations across Hormuz. Iran has insisted that the United States dismantle its naval blockade as a precondition for any dialogue, while Washington has countered with demands that Iran fully restore passage through the Strait of Hormuz \u2014 leaving both sides locked in a diplomatic deadlock.<\/p>\n\n\n\n<p>The Strait of Hormuz has emerged as the central flashpoint of the Iran conflict, given that the channel handled approximately 20% of global oil flows before its closure in late February.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Prices climb: Brent crude rose 1.1% to $106.27\/barrel; WTI gained 1% to $96.83\/barrel, with both benchmarks set to end the week 15%\u201318% higher. Trump&#8217;s tough line: The president said he&#8217;s in &#8220;no rush&#8221; to reach a deal with Iran, while ruling out nuclear weapons and claiming U.S. strikes have crippled Iranian military capabilities. &hellip;<\/p>\n","protected":false},"author":9,"featured_media":115753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-126241","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126241"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126241\/revisions"}],"predecessor-version":[{"id":126242,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126241\/revisions\/126242"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/115753"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}