Back to today’s briefing

Story perspectives

Trump Holds Off Ending Iran War, Oil Hits $105 per Barrel

4/24/2026

22 2 Full Breakdown

Summary

Story summary

President Donald Trump said he is not rushing to end the Iran war.
Brent crude futures rose to $105.65 a barrel on Friday as the Hormuz standoff persisted.
Traffic through the Strait of Hormuz fell to five ships in 24 hours, far below the pre-war average of 140.
Analysts expect central banks may pause rate hikes because oil above $100 a barrel raises demand-destruction risk.

History

Historical Context

The 1973 OAPEC oil embargo, launched after the Yom Kippur War, forced a four-fold price jump from $3 to $12 per barrel and sharply reduced U.S. oil supplies, prompting President Nixon’s emergency energy measures. Decades later, the Hormuz standoff threatens similar supply cuts, pushing Brent above $105 and reviving central-bank caution reminiscent of 1973’s monetary tightening.

1 of 2

Story summary

President Donald Trump said he is not rushing to end the Iran war.
Brent crude futures rose to $105.65 a barrel on Friday as the Hormuz standoff persisted.
Traffic through the Strait of Hormuz fell to five ships in 24 hours, far below the pre-war average of 140.
Analysts expect central banks may pause rate hikes because oil above $100 a barrel raises demand-destruction risk.

1 / 2