Late Wednesday, U.S. stock futures turned mixed amid escalating tensions between Washington and Tehran, which pushed global oil prices sharply higher.
Oil Prices Surge As Trump Maintains Pressure On Iran
Dow futures fell 162.00 points, or 0.33%, to 48,850.00, while S&P 500 futures gained 30.00 points, or 0.42%, to 7,198.00 and Nasdaq 100 futures advanced 272.75 points, or 1.00%, to 27,598.00 as of 8:34 p.m. EDT.
In commodities, WTI crude oil rose 0.22% to $107.12 per barrel. Brent crude climbed 1.46% to $119.75 per barrel.
RBOB gasoline futures gained 0.33% to $3.7535 per gallon, while natural gas futures fell 0.53% to $2.633 per MMBtu.
ULSD heating oil slipped 0.17% to $4.1916 per gallon.
Meanwhile, the U.S. dollar index stood at 98.858, down 0.12%.
Asian markets were mixed, with Japan’s Nikkei 225 falling 1.01% to 59,312.75, while South Korea’s KOSPI gained 0.31% to 6,711.36.
Trump Doubles Down On Iran Naval Blockade
Earlier on Wednesday, Donald Trump said the blockade would remain in place until Tehran agrees to a nuclear deal.
“The blockade is somewhat more effective than the bombing,” Trump told Axios. “They are choking like a stuffed pig.”
Meanwhile, on Thursday, the U.S. Central Command said the operation has blocked dozens of vessels and stranded roughly 69 million barrels of Iranian oil, depriving Tehran of billions in potential revenue.
Iran Mocks Trump As Strait Of Hormuz Crisis Deepens
Iranian parliament speaker Mohammad Bagher Ghalibaf ridiculed Trump’s strategy, arguing the blockade has instead fueled surging global oil prices.
Blaming what he called flawed U.S. economic thinking, Ghalibaf posted on X that Washington’s “blockade theory” had driven crude toward $120 per barrel and warned, “Next stop: 140.”
“The issue isn’t the theory, it’s the mindset,” Ghalibaf said.
He also dismissed Trump’s statement that Iran’s oil infrastructure was on the verge of collapse, mocking predictions that key wells would fail within days.
Goldman Sachs Lifts 2026 Oil Forecast Amid Hormuz Risks
In an April 26 note, Goldman Sachs commodity analyst Daan Struyven raised the bank’s fourth-quarter 2026 Brent crude forecast to $90 from $80 and increased its WTI outlook to $83 from $75.
Each update reflects expectations of a more prolonged disruption in the Strait of Hormuz.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
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