Summary
- International oil prices jumped more than 3%, with Brent futures reported at $108.71 a barrel.
- Brent has surged about 50% over the past month and is expected to post the biggest monthly gain on record.
- Donald Trump’s comments about "taking Iranian crude," combined with the Middle East crisis, were reported to have increased upward pressure on global oil prices.
Forecast Trend Report by Period
International oil prices jumped more than 3% after U.S. President Donald Trump said he would "take Iranian crude," as tensions escalate on the Middle East front amid moves such as the deployment of U.S. ground troops and the entry of Yemen’s Houthi rebels into the fighting.
As of 11:30 a.m. (Korea time) on the 30th, Brent crude futures on the New York Mercantile Exchange were up 3.22% at $108.71 a barrel.
Brent has surged about 50% over the past month. CNBC reported that if the trend continues, it is set to post the biggest monthly gain on record.
Trump’s remarks were what pushed prices higher. In an interview with the UK’s Financial Times that day, he said, "The preferred option in Iran is to take the oil."
He added that it would be similar to how the U.S. effectively took control of Venezuela’s oil sector after the arrest of Nicolás Maduro.
The comments came as fighting between the U.S. and Iran entered its fifth week. CNBC said the remarks, made against the backdrop of a deepening Middle East crisis, added to upward pressure on global oil prices.
By Kim Dae-young, Hankyung.com reporter kdy@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
![[Market] Bitcoin Reclaims $67,000…Broad-Based Rebound Across the Market](https://media.bloomingbit.io/PROD/news/a629ebd6-9bb5-411d-a51d-d0ea3db4313e.webp?w=250)
