Oil Prices Rise as Hormuz Stays Shut Ahead of Trump Deadline, Strikes on Iran Intensify

By Shadia Nasralla

LONDON, April 7 (Reuters) – Oil prices rose on Tuesday ahead of a deadline set by U.S. President Donald Trump for Iran to open the Strait of Hormuz or face attacks on power plants and other infrastructure.

Brent crude futures LCOc1 were up $1.39, or 1.27%, at $111.16 a barrel by 1209 GMT while U.S. West Texas Intermediate crude CLc1 was close to a four-week high at $116 a barrel, up $3.58 or 3.18%.

Typically WTI trades at a discount to Brent, but this has reversed in a market where barrels for earlier delivery command