WTI Crude Oil Surges Over 6% Temporarily, Brent Crude Up Over 5% as Trump Discusses Potential Extension of Hormuz Strait Blockade

BlockBeats News, April 29th, according to Bitget market data, the oil market continued to rise tonight, with WTI crude oil rising over 6% to $107.22 and Brent crude rising over 5% to $109.19.

On the news front, Iran has issued a warning that if the U.S. continues to detain vessels related to Iran, Iran will take "unprecedented military action." At the same time, White House officials said President Trump met with oil company executives on Tuesday to discuss the possibility of a months-long blockade of the Strait of Hormuz if necessary.