Trump said discussions with Iran "are ongoing," without giving any detail.The gains in crude prices followed Trump's rare address to the nation, where he cast the war as a success. The president said the US would hit Iran hard over the next two to three weeks, and that Hormuz would open "naturally" after the conflict ends, without offering details or a clear timeline. "The market was not positioned for this," said Scott Shelton, an energy specialist at TC ICAP. European diesel's jump on Thursday is the latest surge that underscores the potential inflationary hit to the global economy. Some cargoes have been sailing thousands of miles as buyers in different regions rush to scoop up available supplies.

Source: Economic Times April 03, 2026 05:17 UTC