Europe’s diesel futures benchmark climbed above US$200 a barrel for the first time since 2022. And Dated Brent, the world’s most important price for real-world oil barrels, surged to an 18-year high. The gains followed Trump’s rare primetime address to the nation, where he cast the war as a success. French President Emmanuel Macron said it would be unrealistic to use military means to reopen the strait. Without a resumption of flows through Hormuz, there’s little sign that pressure on oil markets will abate.

Source: The Edge Markets April 02, 2026 23:01 UTC