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Brent Crude Tops $105 As Strait Of Hormuz Remains Closed, Negotiations At a Standstill

Donald Trump Iran Oil Mojtaba Khamenei Ayatollah Ali Khamenei Strait of Hormuz IRGC

Image of an oil pump

The price of Brent crude oil continued to rise on Thursday as the Strait of Hormuz remains closed and negotiations between the U.S. and Iran is still deadlocked.

Concretely, Brent oil futures jumped about 3% to close above $105 per barrel. The price of West Texas Intermediate also climbed a similar amount, clocking in at almost $96.

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