# Oil prices extend multi-day rally as Trump issues new threat to Iran

> Brent rose about 6% to settle at $118.03 and WTI gained nearly 7% to $106.88 after Trump said the US would maintain its naval blockade of Iran until a nuclear deal is agreed. Negotiations have stalled, and Iran refuses to reopen the Strait of Hormuz while the blockade continues.

- Date: 2026-04-29 · published 2026-04-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/19885-oil-prices-extend-multi-day-rally-as-trump-issues-new-threat-to-iran
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Extended blockade and Hormuz closure sustain high crude and diesel prices, raising feed production and freight costs and supporting biofuel-linked vegetable oil demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.2% | +6.1% |
| WTI | 2026-01-13 | [Oil rallies after Trump tells Iran protesters help is on the way](https://feedsoft.ai/events/11392-oil-rallies-after-trump-tells-iran-protesters-help-is-on-the-way.md) | +1.5% | +7.9% |
| WTI | 2025-03-20 | [Oil prices settle $1 higher after US issues new Iran-related sanctions](https://feedsoft.ai/events/25757-oil-prices-settle-1-higher-after-us-issues-new-iran-related-sanctions.md) | +3.9% | -6.8% |
| WTI | 2026-01-29 | [Crude Prices Surge as President Trump Ramps Up Pressure on Iran](https://feedsoft.ai/events/21230-crude-prices-surge-as-president-trump-ramps-up-pressure-on-iran.md) | +2.9% | +3.6% |
| WTI | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -2.7% | -6.1% |
| BRENT | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.8% | +8.2% |
| BRENT | 2026-01-13 | [Oil rallies after Trump tells Iran protesters help is on the way](https://feedsoft.ai/events/11392-oil-rallies-after-trump-tells-iran-protesters-help-is-on-the-way.md) | +1.4% | +8.5% |
| BRENT | 2025-03-20 | [Oil prices settle $1 higher after US issues new Iran-related sanctions](https://feedsoft.ai/events/25757-oil-prices-settle-1-higher-after-us-issues-new-iran-related-sanctions.md) | +4.0% | -6.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/04/29/oil-prices-brent-wti-trump-iran.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.