Live Update 
From the Liveblog of
Wednesday, April 29, 2026
From the Liveblog of
Wednesday, April 29, 2026
Price of oil spikes by over 5% after report Trump told officials to prepare for extended Hormuz blockade
Add ToI as a Preferred Source on GoogleLONDON — Oil prices spike sharply after a report that US President Donald Trump had told national security officials to prepare for a long blockade of Iran’s ports and the Strait of Hormuz.
At around 1335 GMT, a barrel of Brent crude for June delivery was up 5.16 percent at $117, its highest level since the fragile ceasefire between the United States and Iran came into effect.
Benchmark US oil contract, West Texas Intermediate, for delivery in the same month, gained 4.85 percent to reach $104.78, following the report in The Wall Street Journal.
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