Following tough statements from US President Donald Trump regarding the conflict with Iran, world oil prices surged, pushing both benchmark crude oil to around $110 per barrel. At the close of trading on April 2nd, North Sea Brent crude rose 7.8% to $109.03 per barrel. US West Texas Intermediate (WTI) crude surged 11.4%, closing at $111.54 per barrel. This was the largest daily increase recorded since 2020.
Jim Reid, CEO of Deutsche Bank, noted that Trump's highly anticipated speech offered little new information on the roadmap or conditions for ending hostilities with Iran. This fueled widespread skepticism in the market regarding a way out of the conflict.
With oil prices remaining high, the U.S. Energy Information Agency (EIA) forecasts that this situation will boost domestic production. Accordingly, U.S. crude oil production is expected to average 13.61 million barrels per day in 2026 and continue to increase to 13.83 million barrels per day in 2027.
Previously, data from the EIA indicated that in January 2026, US crude oil production experienced its sharpest decline in two years due to a severe winter storm disrupting production in key areas. The current price of oil, nearing $112 per barrel, is expected to provide a strong financial impetus for US energy companies to accelerate their recovery and expand production to offset the decline in supply from the Middle East.
Source: https://vtv.vn/gia-dau-vuot-110-usd-thung-100260403071830659.htm
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