The price of oil is going up. It is now at $112.41 per barrel. This is for oil that will be delivered in May. Brent crude oil is also going up. It is now at $109.77 per barrel.
Donald Trump said that Iran has to reopen the Strait of Hormuz. If they do not the United States will attack. The Strait of Hormuz is an important place for oil to be shipped. Iran closed the Strait of Hormuz. This has caused a problem for oil prices. Oil prices have gone up a lot.
Donald Trump said that Iran is talking to the United States. They are trying to make a deal.. It is not clear if they will be able to make a deal. Iran has its plan. It has 10 points. The plan says that the United States and Iran should stop fighting. The plan also says that the United States should lift sanctions on Iran.
It is not clear if the United States will agree to Irans plan. Donald Trump said that Irans plan is not good enough. He said that Iran has made a step.. He said that it is not enough.
The outcome of the talks is not clear. Ed Yardeni said that it is hard to predict what will happen. He said that Iran might give in.. Donald Trump might delay the deadline.. The war might get worse.
Some ships are now going through the Strait of Hormuz.. It is not a lot. It is still a problem. Michael Wan said that it will take a time for things to get back to normal. He said that it will take least 3 to 6 months. Oil prices are still going up because of the problem. Donald Trump and Iran are still talking.. It is not clear what will happen. Oil prices are going up because of the problem with Iran. The problem with Iran is causing an increase, in oil prices.