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After jumping from $ 1.14 or 1.9 percent to $ 62.47 per barrel, crude for May delivery increased to $ 2.21 or 3.5 percent to $ 64.68 per barrel.
The price of crude oil has increased continuously, as Treasury Secretary Scott Besent said that amid concerns amid concerns about Iranian oil exports, it has been said that the US will continue to pressurize Iran after imposing new restrictions on Chinese importers of Iranian crude oil on Wednesday.
“We will apply maximum pressure to Iran and disrupt the regime’s oil supply chain and exports, supporting terrorists curtains and partners,” Besant posted on X. “Any refinery, company, or broker who chooses at serious risk for buying Iranian oil or facilitating Iran’s oil trade places.”
“We are ready to take all the action available to bring Iran’s energy exports to zero, where they are, and protect Americans,” he said.
The increase in the price of crude oil may also reflect optimism about potential trade deals after excited comments from President Donald Trump
Trump said in a post on Truth Social on Wednesday that “big progress” was made in a meeting with the Japanese trade delegation.
“Yesterday was a very productive call with the President of Mexico,” he said in a post this morning. “Similarly, I met the highest level Japanese business representatives. It was a very productive meeting. Every nation including China, today, wants to meet Italy!”
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