Oil prices rose on Thursday to hit a new wartime high as President Trump continued to assert that the naval blockade of Iran’s ports will continue until Tehran abandons its nuclear program.
Mr. Trump’s remarks to Axios suggested the conflict over the Strait of Hormuz, the vital trade route for oil and natural gas supplies, was nowhere near a resolution.
The comments added further momentum to oil prices, which were already reflecting growing pessimism for an imminent peace deal. Over the past two weeks, the price of Brent crude, the global benchmark for oil, has risen about 30 percent.
