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    <title>Aaj TV English News - Pakistan</title>
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    <language>en-Us</language>
    <copyright>Copyright 2026</copyright>
    <pubDate>Wed, 29 Apr 2026 10:22:49 +0500</pubDate>
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      <title>Oil prices rise on US plan to prolong Iran blockade</title>
      <link>https://english.aaj.tv/news/330457600/oil-prices-rise-on-us-plan-to-prolong-iran-blockade</link>
      <description>&lt;p&gt;&lt;strong&gt;Oil prices rose on ‌Wednesday, extending a multi-day rally, on reports that the US will extend its blockade of Iranian ports, likely prolonging supply disruptions from the key Middle East producing region.&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;US President Donald Trump has instructed aides to prepare for an ​extended blockade of Iran, the &lt;em&gt;Wall Street Journal&lt;/em&gt; reported late on Tuesday, citing US officials.&lt;/p&gt;
&lt;p&gt;Trump will ​opt to continue to squeeze Iran’s economy and oil exports by preventing ⁠shipping to and from its ports, the report said.&lt;/p&gt;
&lt;p&gt;Brent crude futures for June rose 52 cents, ​or 0.47%, to $111.78 a barrel at 0154 GMT, climbing for an eighth day.&lt;/p&gt;
&lt;p&gt;The June contract ​expires on Thursday, and the more active July contract was at $104.84, up 0.4%.&lt;/p&gt;
&lt;p&gt;US West Texas Intermediate (WTI) futures for June rose 57 cents, or 0.57%, to $100.50 a barrel after gaining 3.7% in the previous session, climbing for seven out ​of the last eight days.&lt;/p&gt;
&lt;p&gt;“The recent rise in oil prices has been driven by the ​Strait blockade. If Trump is prepared to extend the blockade, supply disruptions would worsen further and continue to push ‌oil ⁠prices higher,” said Yang An, an analyst at Haitong Futures.&lt;/p&gt;
&lt;p&gt;Though there is a ceasefire in the US-Israeli war with Iran, the conflict remains deadlocked while the sides seek a formal end to the fighting, with Iran shutting shipping flows through the Strait of Hormuz, a conduit for about 20% ​of global oil and ​liquefied natural gas supplies, ⁠and the US blockading Iranian ports.&lt;/p&gt;
&lt;p&gt;The US is pressing for an end to what it claims is Iran’s nuclear weapons programme, while Iran is ​demanding some form of reparations from the latest round of fighting, an ​easing of ⁠economic sanctions and some form of control over the Strait of Hormuz.&lt;/p&gt;
&lt;p&gt;The Hormuz shutdown is continuing to foster pulls from global inventories, with market sources saying late on Tuesday, the American Petroleum Institute reported ⁠US ​crude oil inventories fell for a second week.&lt;/p&gt;
&lt;p&gt;Crude stocks fell by ​1.79 million barrels in the week ended April 24, the sources said.&lt;/p&gt;
&lt;p&gt;Gasoline inventories fell by 8.47 million barrels, while ​distillate inventories fell by 2.60 million barrels.&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><strong>Oil prices rose on ‌Wednesday, extending a multi-day rally, on reports that the US will extend its blockade of Iranian ports, likely prolonging supply disruptions from the key Middle East producing region.</strong></p>
<p>US President Donald Trump has instructed aides to prepare for an ​extended blockade of Iran, the <em>Wall Street Journal</em> reported late on Tuesday, citing US officials.</p>
<p>Trump will ​opt to continue to squeeze Iran’s economy and oil exports by preventing ⁠shipping to and from its ports, the report said.</p>
<p>Brent crude futures for June rose 52 cents, ​or 0.47%, to $111.78 a barrel at 0154 GMT, climbing for an eighth day.</p>
<p>The June contract ​expires on Thursday, and the more active July contract was at $104.84, up 0.4%.</p>
<p>US West Texas Intermediate (WTI) futures for June rose 57 cents, or 0.57%, to $100.50 a barrel after gaining 3.7% in the previous session, climbing for seven out ​of the last eight days.</p>
<p>“The recent rise in oil prices has been driven by the ​Strait blockade. If Trump is prepared to extend the blockade, supply disruptions would worsen further and continue to push ‌oil ⁠prices higher,” said Yang An, an analyst at Haitong Futures.</p>
<p>Though there is a ceasefire in the US-Israeli war with Iran, the conflict remains deadlocked while the sides seek a formal end to the fighting, with Iran shutting shipping flows through the Strait of Hormuz, a conduit for about 20% ​of global oil and ​liquefied natural gas supplies, ⁠and the US blockading Iranian ports.</p>
<p>The US is pressing for an end to what it claims is Iran’s nuclear weapons programme, while Iran is ​demanding some form of reparations from the latest round of fighting, an ​easing of ⁠economic sanctions and some form of control over the Strait of Hormuz.</p>
<p>The Hormuz shutdown is continuing to foster pulls from global inventories, with market sources saying late on Tuesday, the American Petroleum Institute reported ⁠US ​crude oil inventories fell for a second week.</p>
<p>Crude stocks fell by ​1.79 million barrels in the week ended April 24, the sources said.</p>
<p>Gasoline inventories fell by 8.47 million barrels, while ​distillate inventories fell by 2.60 million barrels.</p>
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      <category>Pakistan</category>
      <guid>https://english.aaj.tv/news/330457600</guid>
      <pubDate>Wed, 29 Apr 2026 10:01:23 +0500</pubDate>
      <author>none@none.com (Reuters)</author>
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        <media:title>An oil tanker docks at Keelung Port in Keelung, Taiwan. -- Reuters</media:title>
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