Oil price LIVE: Crude ‘to hit $130’ as Strait of Hormuz closed and US | World | News

According to broker LiteFinance’s forecast, the price of crude oil could dramatically reach $133.91 in the next few days.

This comes at a time when the fragile ceasefire between the US and Iran is on the verge of collapse following a direct naval conflict in the Gulf of Oman.

Minister Donald Trump The US Navy successfully captured and seized the Iranian-flagged cargo ship Touska, which was allegedly trying to bypass the American naval blockade, the US Navy announced on Sunday.

While the United States sent a delegation led by Vice President JD Vance to Islamabad, Pakistan, for the second round of peace negotiations, Iranian state media rejected the invitation.

Tehran condemned the seizure of its ship as “armed robbery” and a violation of the existing ceasefire and vowed to keep the Strait of Hormuz closed until the United States lifted the naval siege.

The ceasefire is expected to end this Wednesday, and Tehran and Washington still appear miles away from a peace deal.