Oil prices rise as Trump warns Iran over patience

Global oil prices rose more than 1% on Friday after remarks by United States President Donald Trump signalled growing impatience with Iran amid ongoing tensions surrounding the Strait of Hormuz, a critical global shipping route.

Brent crude futures climbed $1.32, or 1.25%, to $107.04 per barrel, while US West Texas Intermediate (WTI) rose $1.33, or 1.31%, to $102.50. Both benchmarks also recorded strong weekly gains, with Brent up nearly 6% and WTI rising more than 7%, reflecting heightened market uncertainty.

Trump said in a televised interview that he would not remain “much more patient” with Iran and urged Tehran to reach a deal, reinforcing concerns that geopolitical tensions in the region remain unresolved despite reports of a fragile ceasefire.

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Market sentiment was further influenced by ongoing disruptions in the Strait of Hormuz, where shipping activity remains volatile. Iran has claimed that dozens of vessels have passed through the waterway in recent days, though levels remain significantly below normal pre-conflict traffic.

Energy analysts said the lack of a breakthrough in diplomatic talks, including discussions involving China during high-level meetings in Beijing, has pushed markets back toward risk pricing based on supply uncertainty.

US Trade Representative Jamieson Greer noted that China views stable access to the Strait of Hormuz as essential, highlighting the global stakes tied to the region’s security. Meanwhile, reports of vessel seizures and maritime incidents have added to concerns over shipping safety.

Market experts say the primary driver of current oil price movements remains tight supply conditions, with geopolitical risks acting as a major catalyst for volatility. While some easing in shipping flows has been observed, analysts caution that the situation remains unstable and sensitive to political developments.

The outlook for energy markets is expected to remain uncertain as traders closely watch diplomatic efforts and potential escalation risks in the region.