The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

We use cookies to improve your experience and serve personalized ads.

By clicking Accept, you consent to our use of advertising cookies. See our Privacy Policy for details.

CommoditiesMedium•8 April 2026•

1 min read

WTI Crude Surges to 2022 Highs as Trump's Hormuz Deadline Approaches

Key Facts

1WTI crude prices rose sharply, heading for their highest closing price since 2022.

2US President Donald Trump set a deadline for Iran to open the Strait of Hormuz or face severe consequences.

3Gold and base metal prices like copper and aluminum remained largely steady while Brent crude was flat.

WTI crude oil prices experienced a sharp rally, approaching their highest closing levels since 2022. The surge comes as market participants react to a looming deadline set by US President Donald Trump for Iran to reopen the Strait of Hormuz. Trump has warned of "severe consequences" if the critical shipping lane is not opened, sparking fears of potential military escalation in the region. While US crude saw significant gains, Brent crude and base metals like copper and aluminum remained relatively flat during the session. Traders are currently pricing in a substantial risk premium as the 8 p.m. Eastern deadline nears. This price action underscores heightened anxiety over global energy supply stability through vital maritime corridors.

Create Free Account