Oil prices rise again as Strait of Hormuz remains closed and Trump threatens to resume attacks on Iran if it doesn't agree to talks

Following Friday's statements by President Trump and Iran's Foreign Minister about the full opening of the Strait of Hormuz to commercial vessels, June Brent crude oil prices fell by 9.4% to $90.5/barrel, with markets expecting negotiations to continue on Sunday or Monday.

However, on Saturday, the IRGC forces reported that the Strait of Hormuz was closed as the US continued to block Iranian vessels and Israel violated the ceasefire in Lebanon.

Two Indian merchant ships reported on April 18 that they had come under fire from IRGC-linked boats while attempting to pass through the Strait of Hormuz. India summoned Iran's ambassador in response, although the crews and tankers themselves were not harmed.

On Sunday, President Trump said talks would resume in Pakistan on Monday, but Iran refused to participate until the United States opened the strait to Iranian ships. Trump then again threatened to destroy power plants and bridges in Iran if he did not sign a deal by April 22, when the ceasefire expires.

During the night, an Iranian vessel entering the Strait of Hormuz refused to stop at the request of the US military and was attacked by a US destroyer, as a result of which several shells hit the engine room. The vessel then stopped for inspection.

This morning, the foreign ministers of Iran and Pakistan confirmed that talks between Tehran and the United States will continue to maintain peace and security in the region.

Brent crude oil prices rose 5% to $95/barrel at the opening of Asian markets today.

Meanwhile, insider trading continues to be reported on US stock exchanges. On Friday, unknown traders bet $760 million on falling oil prices about 20 minutes before Iran's Foreign Ministry announced the opening of the Strait of Hormuz.

Recall that on April 7, bets worth about $950 million were placed just hours before the US and Iran announced a two-week ceasefire, and on March 23, investors placed $580 million 15 minutes before President Trump announced that he was postponing attacks on Iran's energy infrastructure.