Oil Prices Rise as Trump Signals Possible Iran Exit; Hormuz Disruption Keeps Markets Volatile

Oil Prices Rise as Trump Signals Possible Iran Exit; Hormuz Disruption Keeps Markets Volatile​

Crude Gains Extend Amid Ongoing Gulf Tensions​

Crude oil prices moved higher in Asian trading on Wednesday as continued disruptions in the Persian Gulf and fresh signals from U.S. President Donald Trump on a potential exit from Iran kept markets unsettled.

Brent crude for June delivery rose 1.5 percent to $105.56 per barrel. The May contract had already settled about 5 percent higher at $118.35 per barrel in the previous session. U.S. West Texas Intermediate crude for May also climbed 1.5 percent to $102.92 per barrel.

March Rally Marks Strongest Gains in Decades​

Oil prices recorded a sharp rally through March, reflecting heightened geopolitical risk. Brent crude surged more than 60 percent during the month, marking its strongest performance since 1988. WTI advanced about 51 percent over the same period, its best monthly gain since May 2020.

Strait of Hormuz Disruption Drives Supply Concerns​

The continued escalation of the conflict involving Iran has disrupted energy supplies from a region that accounts for a significant portion of global oil production.

The Strait of Hormuz remains largely shut following intensified hostilities. The strategic waterway, which connects the Persian Gulf to the Gulf of Oman, typically carries around 20 percent of global oil flows, making it a critical chokepoint for energy markets.

Trump Signals Possible U.S. Withdrawal from Iran​

Speaking at the White House on Tuesday, Donald Trump indicated that U.S. forces could exit Iran within “two or three weeks,” pointing to a potential reduction in military engagement.

“We leave because there’s no reason for us to do this,” Trump said, adding that the United States would be “leaving very soon.”

He also stated that a negotiated agreement with Iran was not required and described the situation as involving a “new regime.” Trump reiterated that U.S. actions had prevented Iran from developing nuclear weapons.

White House to Deliver Key Update​

White House spokesperson Karoline Leavitt later announced on X that Trump is scheduled to deliver a national address at 9 p.m. ET on Wednesday, where he is expected to provide an important update on Iran.

Military Escalation Continues​

Tensions in the region remain elevated. Iran’s Islamic Revolutionary Guard Corps said it would begin targeting U.S. companies operating in the region starting Wednesday. The entities named include Google, Microsoft, Apple, Intel, IBM, Tesla and Boeing.

The developments continue to keep global energy markets on edge as traders monitor both geopolitical signals and supply disruptions.