Oil Prices Breach $111 as Trump’s Deadline for Iran to Reopen Strait of Hormuz Nears

Oil Prices Breach $111 as Trump’s Deadline for Iran to Reopen Strait of Hormuz Nears

Brent crude oil futures opened higher on late Sunday from Thursday’s closing, breaking through the $111 per barrel level amid concerns that the Iran war could potentially worsen over the coming week. On March 31, oil prices hit its weekly high of over $119 per barrel. Prices then collapsed to as low as around $98 on Wednesday, before subsequently jumping to more than $109 on Thursday. The markets were closed on Easter Friday. On late Sunday, oil…