Oil climbs above $116 after Trump says he wants to ‘take the oil' in Iran [CNN]
MACQUARIE GROUP LTD S/ADR (MQBKY)
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Source: CNN
London — Brent crude, the global oil benchmark, rose to $116.5 a barrel before paring those gains to trade just above $115, 2.3% up on the day. WTI, the US benchmark, climbed 1.9% to $101.5 a barrel. Trump told the Financial Times in an interview published Sunday that he wants to “take the oil in Iran” and could seize Kharg Island , which handles about 90% of the country's oil exports. He compared the potential move to US operations in Venezuela, according to the FT, where the United States intends to control the oil industry “indefinitely” following its capture of authoritarian leader Nicolás Maduro in January. Crude oil prices have surged more than 50% so far in March following the US-Israeli war against Iran. On Friday, Brent settled at $112.57, its highest settlement level since 2022. Brent had traded around $73 a barrel before the United States and Israel attacked Iran on February 28, prompting Tehran to choke off the Strait of Hormuz , which ordinarily carries around a
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