Global oil prices maintained their upward trend Thursday, settling above one hundred dollars per barrel, following heightened tensions in the Strait of Hormuz. Iran had targeted vessels there, stating this was in response to the U.S. targeting its oil tankers. Brent
crude, the North Sea benchmark, which Wednesday crossed the one hundred dollar threshold first time since July, recorded an additional gain of about half a percent during early Asian trading, pushing past 101.60 dollars. Concurrently, President Donald Trump aimed to galvanize
his base at a Republican conference in Dallas, Texas. He declared during the event that "oil prices will drop immediately after the election."
