ETF Movement: F Samsung Crude Oil Futures Surge Over 6% as Trump's Maritime Blockade Stance Pushes Oil Above $120/Barrel

Stock News14:11

F Samsung Crude Oil Futures (03175) rose more than 6%. As of writing, the gain was 6.67%, with the price at HK$11.52 and a turnover of HK$22.8672 million. On the news front, reports indicate that on April 29, former President Trump stated he would continue the maritime blockade against Iran until Tehran agrees to a deal addressing U.S. concerns over its nuclear program. He described the blockade as "in some ways more effective than bombing," warning Iran's situation "will only get worse," and confirmed no plans to lift it. Separately, Iran's Press TV quoted a senior security official on the 29th stating that Iran would soon respond to the U.S.'s "persistent acts of piracy" with an "unprecedented military operation." Market concerns are growing that escalating Middle East tensions could further disrupt global crude supply. International oil prices continued to climb during Asian trading on April 30, with Brent crude surpassing $124 per barrel, reaching its highest level since military actions were initiated against Iran by the U.S. and Israel.

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