Brent oil surges to $114 as US–Iran tensions shake energy markets and pressure Washington

Business Tech 03-05-2026 | 20:45

Brent oil surges to $114 as US–Iran tensions shake energy markets and pressure Washington

Trump meets oil giants at the White House as supply fears, Strait of Hormuz risks, and falling public support intensify the political and economic stakes of the Iran conflict.

Annahar

Brent oil surges to $114 as US–Iran tensions shake energy markets and pressure Washington

Flags of Iran and America (Agencies)

The American President Donald Trump held a meeting at the White House with senior executives from oil and gas companies, including Mike Wirth, CEO of Chevron, to discuss the impact of the war with Iran on the energy sector and other issues.

The White House has taken some measures to curb rising prices, including repealing the Jones Act, which requires goods transported between U.S. ports to be carried on American-built and American-owned ships.

Tensions between Washington and Tehran have pushed Brent crude oil to $114 per barrel, due to disruptions in supply through the Strait of Hormuz and growing concern in the White House over the economic and political consequences of rising fuel prices.

The meeting took place amid escalating political pressure on the American administration, following recent opinion polls showing an unprecedented decline in public support for the military campaign.

Brent oil surges to $114 as US–Iran tensions shake energy markets and pressure Washington

Brent oil surges to $114 as US–Iran tensions shake energy markets and pressure Washington

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