{"id":34545,"date":"2026-05-15T07:50:26","date_gmt":"2026-05-15T05:50:26","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=34545"},"modified":"2026-05-15T07:50:26","modified_gmt":"2026-05-15T05:50:26","slug":"oil-rises-after-us-president-lose-patience-with-iran","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/oil-rises-after-us-president-lose-patience-with-iran\/","title":{"rendered":"Oil rises after US President\u00a0lose\u00a0patience with Iran"},"content":{"rendered":"<div>\n<p class=\"x_MsoNormal\"><span style=\"background-color: var(--global--color-background); color: var(--global--color-primary); font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">Oil prices gained more than 1% after President Donald Trump said he would not be \u200cmuch more patient with Iran and as concerns persisted over ship attacks and seizures despite Tehran saying about 30 vessels had passed through the Strait of Hormuz.<\/span><\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">Brent crude oil futures rose $1.32, or 1.25%, to $107.04 a barrel, while United States (US) \u200bWest Texas Intermediate futures were up $1.33, or 1.31%, to $102.50.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">For the week, Brent has climbed nearly \u200b6%, while WTI has jumped more than 7%, on uncertainty over the shaky ceasefire \u2060in the Iran conflict.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">&#8220;I am not going to be much more patient,&#8221; Trump said in an interview aired \u200bon Thursday night on Fox News. &#8220;They should make a deal.&#8221;<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">US Trade Representative Jamieson Greer said on Friday morning \u200bthat China was being very pragmatic about involvement with Iran, and it was important to China to have the Strait of Hormuz open, in an interview with Bloomberg.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">Trump and China&#8217;s President Xi Jinping are set to meet on Friday to wrap up a \u200btwo-day state visit that has featured pomp and business deals.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">&#8220;With the Beijing summit not delivering any breakthrough on \u200bIran, market focus is back on the deadlock and a blockaded Strait, with a tail risk of renewed military escalation,&#8221; \u200csaid \u2060Vandana Hari, founder of oil market analysis provider Vanda Insights.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">Among deals the market was looking out for from the summit, Trump said China wants to buy oil from the US.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">In incidents around the Strait of Hormuz, a ship was reported seized by Iranian personnel off the United Arab Emirates (UAE) and headed for Iranian waters on \u200bThursday, and an Indian cargo \u200bvessel carrying livestock from \u2060Africa to the UAE was sunk on Wednesday in waters off the coast of Oman.<\/p>\n<\/div>\n<div>\n<p class=\"x_MsoNormal\">&#8211;Reuters&#8211;<\/p>\n<\/div>\n","protected":false},"featured_media":20458,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-34545","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"Oil prices gained more than 1%","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34545\/revisions"}],"predecessor-version":[{"id":34546,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34545\/revisions\/34546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/20458"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=34545"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=34545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}