Oil Price Tops $117 as Iran Blockade Fears Pressure XRP
Brent crude climbed above $117 after reports said the U.S. prepared for an extended blockade of Irans ports.Chevron met President Donald Trump at the White House to discuss ways to limit pressure on American consumers.XRP traded at $1.36, down 1% in 24 hours, with a market cap of $83.96 billion. Oil prices moved higher on Wednesday after reports said the U.S. prepared for a longer blockade of Irans ports. Brent crude climbed above $117 a barrel, extending its rise from just over $110 on Tuesday evening. The move kept energy markets focused on the Strait of Hormuz, where shipping disruption has already affected supply expectations. Crypto markets also traded under pressure as investors watched wider risk conditions. According to CoinMarketCap, XRP traded at $1.36, down 1% over 24 hours, while trading volume rose to $1.95 billion. The token stayed below $1.40 after slipping from a 24-hour high of $1.41. Oil Rally Follows Blockade Reports Brent crude rose above $117 a barrel on Wednesday afternoon, reaching its highest level so far this month. The move followed reports that President Donald Trump instructed aides to prepare for an extended blockade of Iran‘s ports. The reported plan aims to increase pressure on Iran’s economy and oil exports. BBC