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Brent crude surges past $105 after Trump speech, WTI tops $103

World News

02-04-2026 | 00:53

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Brent crude surges past $105 after Trump speech, WTI tops $103

Oil prices surged Thursday after Donald Trump's address to the nation did little to soothe investor worries over the closure of the strategic Strait of Hormuz, with the U.S. president calling on other nations to help reopen it.

Brent jumped more than four percent to as high as $105.55, while West Texas Intermediate climbed three percent to hit $103.16. Both contracts had been falling before the U.S. president started his speech.

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