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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

Oil price dips below $100 a barrel after Trump claims Iran wants deal

Oil Iran United States Hormuz US Navy Donald Trump US Central Command
F/A-18 Super Hornets launching from USS Abraham Lincoln aircraft carrier flight deck
US Central Command had in effect seized control of maritime traffic in the strait of Hormuz. Photograph: US Navy/Reuters

Oil prices have fallen back after briefly rising to above $100 a barrel as Donald Trump claimed Iran had made contact and wanted “very badly” to strike a deal in the face of his blockade of the strait of Hormuz.

The Brent crude international benchmark rose above the key psychological threshold earlier in the day, at one point up 6.9% to $101.70 a barrel on news of the US president’s plan to block the waterway to Iranian marine traffic.

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