Oil prices jump as US, Iran trade fire in Strait of Hormuz

May 8, 2026·Source: Al Jazeera·3 views

Brent crude rises amid clashes in critical waterway.

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The world's largest automaker by sales volume saw a 1.89% year-on-year rise in revenue during the fourth quarter ended March.

Traders are embracing the “NACHO” trade, betting Hormuz disruptions and elevated oil prices will persist longer than expected.

As the country heads into Victory Day, the economy is stalling, internet restrictions are growing and the Kremlin is fearing Ukrainian attacks.

Iran says US violated ceasefire by targeting vessels, ports, but Trump insists ceasefire still in effect.

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