{"id":516749,"date":"2026-03-05T21:39:15","date_gmt":"2026-03-05T21:39:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/516749\/"},"modified":"2026-03-05T21:39:15","modified_gmt":"2026-03-05T21:39:15","slug":"u-s-crude-oil-jumps-after-iran-says-it-attacked-a-tanker","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/516749\/","title":{"rendered":"U.S. crude oil jumps after Iran says it attacked a tanker"},"content":{"rendered":"

\"White<\/p>\n

U.S. crude oil prices on Thursday topped $80 per barrel as the escalating Iran war disrupts global fuel supplies, with traffic in the Strait of Hormuz at a standstill due to attacks on tankers. <\/p>\n

The price of West Texas Intermediate<\/a> oil surged 8.51%, or $6.35, to close at $81.01 per barrel. Global benchmark Brent<\/a> rose 4.93%, or $4.01, to settle at $85.41 per barrel. U.S. oil prices have surged about 21% this week. <\/p>\n

Retail gasoline prices in the U.S. have jumped nearly 27 cents since last week to $3.25 per gallon on average, according to the motorist group AAA<\/a>. The last time gas prices made a similar jump was in March 2022 after Russia invaded Ukraine, the group said. <\/p>\n

Iran claimed to have struck an oil tanker with a missile, according to a state media report<\/a>. Iran’s Revolutionary Guard ordered a closure of the Strait of Hormuz earlier this week and threatened to attack tankers passing through it, according to state media<\/a>. <\/p>\n

The British Navy<\/a> on Thursday reported a large explosion at a tanker at anchor in Iraqi territorial waters. The ship’s master reported seeing a small vessel flee the scene. The crew is safe and no fires were reported. <\/p>\n

Tanker traffic through the Strait of Hormuz has come to a standstill since the U.S.-Israeli war against Iran began, as ship owners are worried about the volatile security situation. About 20% of global oil consumption is exported through the strait. <\/p>\n

President Donald Trump<\/a> said Tuesday the U.S. will provide political risk insurance for tankers passing through the strait. Trump said the U.S. Navy would escort ships through the Persian Gulf if necessary. <\/p>\n

The Trump administration does not have a timeline for when the strait will be safe for commercial shipping again, White House press secretary Karoline Leavitt told reporters Wednesday. <\/p>\n

“I don’t want to commit to a timeline, but certainly it’s something that is being calculated actively by both the Department of War and the Department of Energy,” Leavitt said when asked during a briefing.<\/p>\n","protected":false},"excerpt":{"rendered":"U.S. crude oil prices on Thursday topped $80 per barrel as the escalating Iran war disrupts global fuel…\n","protected":false},"author":2,"featured_media":516750,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[202223,86719,1386,45,161,49,48,6508,87285,1377,1376,46,196882,6510,13626,7155,70545,195739,1385,5897,195736,87282,100,87286,93365,32557,7124,202226,191042,78865,772,197951,195735,7136,70544],"class_list":{"0":"post-516749","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-lco26q","9":"tag-bp-plc","10":"tag-breaking-news-markets","11":"tag-business","12":"tag-business-news","13":"tag-ca","14":"tag-canada","15":"tag-chevron-corp","16":"tag-conocophillips","17":"tag-donald-j-trump","18":"tag-donald-trump","19":"tag-economy","20":"tag-eog-resources-inc","21":"tag-exxon-mobil-corp","22":"tag-foreign-policy","23":"tag-halliburton-co","24":"tag-ice-brent-crude-oct25","25":"tag-invesco-db-oil-fund","26":"tag-investment-strategy","27":"tag-iran","28":"tag-lp","29":"tag-marathon-petroleum-corp","30":"tag-markets","31":"tag-natural-gas-sep25","32":"tag-occidental-petroleum-equity-warrants-exp-3rd-august-2027","33":"tag-oil-and-gas","34":"tag-phillips-66","35":"tag-proshares-ultra-bloomberg-crude-oil","36":"tag-rbob-gas-sep25","37":"tag-shell-plc","38":"tag-united-states","39":"tag-united-states-brent-oil-fund","40":"tag-united-states-oil-fund","41":"tag-valero-energy-corp","42":"tag-wti-crude-sep25"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/516749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=516749"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/516749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/516750"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=516749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=516749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=516749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}