Oil up by 3% after Iran claims it fires US warship; US denies report

[Dewali]

    
     Fars reported on Monday, 4th May 2026 citing local sources that ​it had struck a U.S. warship intending to pass through the Strait and forced it to turn ​back. U.S. Central Command denied that any U.S. Navy ships had been struck on Monday.
  
      "The path for prices remains skewed to the upside as long as flows through the Strait remain restricted," UBS analyst Giovanni Staunovo said.

        President Donald Trump said the U.S. would begin efforts to assist ships stranded in the Strait of Hormuz, but prices stayed above $100 a barrel, ‌with no ⁠peace deal in sight and shipping through the strategic waterway still constrained.
 
Source : https://www.reuters.com/business/energy/oil-falls-after-trump-says-us-would-help-free-ships-stranded-strait-hormuz-2026-05-03/

[Oluwa-btc]

   
     Fars reported on Monday, 4th May 2026 citing local sources that ​it had struck a U.S. warship intending to pass through the Strait and forced it to turn ​back. U.S. Central Command denied that any U.S. Navy ships had been struck on Monday.
  
      "The path for prices remains skewed to the upside as long as flows through the Strait remain restricted," UBS analyst Giovanni Staunovo said.

        President Donald Trump said the U.S. would begin efforts to assist ships stranded in the Strait of Hormuz, but prices stayed above $100 a barrel, ‌with no ⁠peace deal in sight and shipping through the strategic waterway still constrained.
 
Source : https://www.reuters.com/business/energy/oil-falls-after-trump-says-us-would-help-free-ships-stranded-strait-hormuz-2026-05-03/

I thought President of the United States Donald Trump announced they've made enough profits likewise winning this war,  why are they still trying to assist ships through the Strait of Hormuz?! They no longer seize ships buying Iranian oil like pirates again?! Where do they stand really??
The video trending they have said to be false and such never happened today. This is why I wished there was a 4k live feed showing us everything happening around the strait of Hormuz.

[Zlantann]

   
     Fars reported on Monday, 4th May 2026 citing local sources that ​it had struck a U.S. warship intending to pass through the Strait and forced it to turn ​back. U.S. Central Command denied that any U.S. Navy ships had been struck on Monday.
  
      "The path for prices remains skewed to the upside as long as flows through the Strait remain restricted," UBS analyst Giovanni Staunovo said.

        President Donald Trump said the U.S. would begin efforts to assist ships stranded in the Strait of Hormuz, but prices stayed above $100 a barrel, ‌with no ⁠peace deal in sight and shipping through the strategic waterway still constrained.
 
Source : https://www.reuters.com/business/energy/oil-falls-after-trump-says-us-would-help-free-ships-stranded-strait-hormuz-2026-05-03/

The war is far from over, considering that attacks have resumed. This war would have ended if there had been a compromise from both sides. But it seems that the US wants to take control of the Strait of Hormuz. Iran's recent attack on ships and an oil facility in the UAE is to show that they are still in control of the Strait, even when the US claims otherwise.

We might see oil prices go higher because fighting might resume. There was a slight drop in fuel prices in my country. But just this morning, some major petrol retailers have increased the price. The earlier the war ends, the better for the global economy.

[Rengga Jati]

Tensions in the Strait of Hormuz are currently escalating due to these conditions. Both sides continue to threaten each other, which has brought ceasefire to the brink. Indeed, according to this news, oil has risen by around 6%, currently approaching $114.44 per barrel. Conditions have worsened considerably.

I thought President of the United States Donald Trump announced they've made enough profits likewise winning this war,  why are they still trying to assist ships through the Strait of Hormuz?! They no longer seize ships buying Iranian oil like pirates again?! Where do they stand really??

Sometimes we have to look at multiple news sources. Trump has repeatedly stated that they won this war and has enthusiastically declared that the US remains invincible. However, conquering the Strait of Hormuz isn't that easy. After Iran's major decision regarding the use of Bitcoin, they also received assistance from China and North Korea to secure ships in the area. But, it's complicated.

[Doll2233]

Whatever is going on in the world around us is affecting us in multiple ways including finances. Though Iran claimed that they have hit the US warship but they are denying the fact still the oil prices have increased by 3%, the fear of conflict is enough to increase the fuel prices. As USA is not okay with accepting the demands by the Iran their ships are still stranded in Strait of Harmos which is affecting the overall economy. The prices of everything from groceries to fuel is increasing, inflation is increasing which is causing difficulty for common men to meet their daily ends need. Peace deal is the only solution to solve this issue otherwise upcoming days will be more stressing.

[logfiles]

Price is now up by 6%

I believe one of the major causes to rise in price is that fact that Iran decided to attack an oil port in the UAE and some other vessels. This feels like the war my resume from that ceasefire pause. The attempt by the U.S. Navy to free up shipping is definitely provoking the Iran's Revolutionary Guards. I think we are about to witness much worse fuel prices in a very long time. This is going to affect everything, from transport sector to food and Agriculture. Everything might just start skyrocketing.

[STT]

Regardless of the news I take a general trend for oil price up as quite valid, mostly as even if perfect events unfold this war with peace and trade on all sides it will still take a long time to unwind the backlog.   The price in a market is built for the trade to match demand with supply but the current situation is preventing it not just now but also future due to damage and restriction.

   Iran wanting to attack USA war ships is bad enough [however successful], they should be in peace talks but still find solace in tempting the worst outcome for their country.  I say that while thinking neither side wins this fight but its obvious every day Iran finds more positives in continuing hostilities then anyone would have predicted as a profitable elected choice for their government at this point.
  
  Iran benefitting  from chaos and then USA finding this out so late in the battle is part of why I'm not optimistic on any good outcome to this whole failure, it was known and yet not realized long ago this fight was pointless yet here we are again finding its true.

[yhiaali3]

No one really knows what is happening in the Strait of Hormuz because there are conflicting reports from both sides. Iran says one thing and the United States denies it, or vice versa, the United States says one thing and Iran denies it. No one knows the truth, and I think they are both lying.😠

In any case, unless the war there ends and the strait is fully opened, as well as the naval blockade on Iran is lifted, tensions in the region of utmost importance to the world’s energy will not subside, and energy prices will continue to rise, and with them all other commodities will rise as well.

[Fortify]

If a warship does go down with proof, it's going to make this crisis a lot more messy and almost makes it inevitable that some kind of on the ground attacks from America will take place. However this one sided "I'll make declarations and expect them to come true" from Trump is just terrible, you can see how he has bullied people throughout his business career but it doesn't work with geopolitics where you've attacked a country built like a fortress. Neither side is willing to back down so we are going to see a lot more tit for tat, but the longer the strait stays closed the more Iran is winning. We have gone from a smooth economic transportation route to an absolute mess with no end in sight. The costs have not even filtered through to consumers yet, it's such a huge waste of money and life.

[Minor Miner]

No one really knows what is happening in the Strait of Hormuz because there are conflicting reports from both sides. Iran says one thing and the United States denies it, or vice versa, the United States says one thing and Iran denies it. No one knows the truth, and I think they are both lying.😠

In any case, unless the war there ends and the strait is fully opened, as well as the naval blockade on Iran is lifted, tensions in the region of utmost importance to the world’s energy will not subside, and energy prices will continue to rise, and with them all other commodities will rise as well.

Indeed, nobody knows what is happening in the Strait of Hormuz, the information provided by either side is unreliable.  None of them were telling the truth, they were only making statement that benefited themselves.

However, looking at the reaction of the financial market in general and the fact that oil prices are still quite high. This indicates that the situation remains very bad and there are no signs of easing tension.

I do not know exactly whats going on, but not only economists but even many trader are analyzing and predicting that oil prices will continue to rise. This really raises concerns that the worst is yet to come.

[Dewali]

Sometimes we have to look at multiple news sources. Trump has repeatedly stated that they won this war and has enthusiastically declared that the US remains invincible. However, conquering the Strait of Hormuz isn't that easy. After Iran's major decision regarding the use of Bitcoin, they also received assistance from China and North Korea to secure ships in the area. But, it's complicated.

      These war shouldn't have started from the first place , if Donald trump could have just stuck to campaign promises he made before he got elected to office .rather he went ahead and allowing the war criminal Benjamin natanyahu ( who Is wanted by the ICC court of The  Hague),To influence his decision.
       .Now the US is stuck in war that has seems to have no end, due it excessive demands on Iran to fully neutralise the IRGC ,end  it's proxies and accept harsh terms to stop war, but Iran is not  complying. Yet the Iranians are giving US tougher terms to accept . Which has seen the world to paying for it through skyrocketing of oil price,disruption of shipping and economic fallout.
   
           

[BALIK]

The earlier the war ends, the better for the global economy.

This is what everyone wants, for the war to end as soon as possible. Unfortunately, war do not happen randomly, and every war is driven by self-interest. Therefore, as long as the invader have not achieved their goal, the war will not end. They will not stop the war despite its negative impact on the global economy. Because, in reality, they do not care about the global economy as they claim. Instead, they only care about their own national interests.

Given the current situation, predictions that oil prices will reach $180 could become a reality. That would be a disaster for the global economy.

[Dunamisx]

It was also noted in my country that the oil price pushed up a little bit as a result of the announcement from Iran, this shows that there is no devastation ahead of the global economy as a result of this ongoing war and everyone is going to be affected either they like it or not, but I'm only wondering why a single nation or two will be a determinant to what others fate might be, all that car service solution is to see the end of the war.

[Stepstowealth]

Given the current situation, predictions that oil prices will reach $180 could become a reality. That would be a disaster for the global economy.

With this information on the increasing price of oil, I think it is possible for someone to start planning to be somehow less dependent on oil even while living in the City, if you are financially comfortable enough to change your oil powered vehicles to fully electric, and then switch to using solar panels for power, it can be a long term solution to reduce how much you are affected by the rise in prices around you.   
Also to think of it, What ways also can a normal citizen benefit from crisis like this?

[Kelward]

It is said that when two elephants fights that it is the grass that suffers, unfortunately US and Iran, are in a war which is affecting oil price in a negative way, countries and citizens of other nations that are not involved are being affected through oil price. I don't know if Donald Trump, took into serious consideration about Iran's strong hold on the strait of Hormuz, and how to deal with it because clearly Iran is using it as their stronghold to make a statement. As long as this war lasts and Iran is not allowing smooth passage of oil ships through the strait oil scarcity around the globe will continue.

We are now facing war propaganda about attacks and denials and I wonder how this flexing of muscles is helping to stop this war, I think that the sides needs to reach a compromise soonest so that oil ships can have smooth passage through the strait. I'm sure that what is happening now will be an eye opener for the rest of the world not to majorly depend on refined petroleum products to fuel their vehicles. If there are more electric cars I'm sure that dependency on crude oil that is refined to petrol will drastically reduce.

[yhiaali3]

No one really knows what is happening in the Strait of Hormuz because there are conflicting reports from both sides. Iran says one thing and the United States denies it, or vice versa, the United States says one thing and Iran denies it. No one knows the truth, and I think they are both lying.😠

In any case, unless the war there ends and the strait is fully opened, as well as the naval blockade on Iran is lifted, tensions in the region of utmost importance to the world’s energy will not subside, and energy prices will continue to rise, and with them all other commodities will rise as well.

Indeed, nobody knows what is happening in the Strait of Hormuz, the information provided by either side is unreliable.  None of them were telling the truth, they were only making statement that benefited themselves.

However, looking at the reaction of the financial market in general and the fact that oil prices are still quite high. This indicates that the situation remains very bad and there are no signs of easing tension.

I do not know exactly whats going on, but not only economists but even many trader are analyzing and predicting that oil prices will continue to rise. This really raises concerns that the worst is yet to come.

Yes, unfortunately, that is true. It seems that the worst is yet to come. Now, despite all the calming of tensions and ongoing negotiations between the United States and Iran, energy prices are still rising due to the problems in the Strait and America’s naval blockade around Iran.

The worst-case scenario would be if negotiations fail and Trump carries out his threat to destroy all energy facilities in Iran, and Iran, in turn, carries out its threat to target all energy facilities in the Gulf states. Then the world might witness the worst energy crisis in history.

[WatChe]

It is said that when two elephants fights that it is the grass that suffers, unfortunately US and Iran, are in a war which is affecting oil price in a negative way, countries and citizens of other nations that are not involved are being affected through oil price. I don't know if Donald Trump, took into serious consideration about Iran's strong hold on the strait of Hormuz, and how to deal with it because clearly Iran is using it as their stronghold to make a statement. As long as this war lasts and Iran is not allowing smooth passage of oil ships through the strait oil scarcity around the globe will continue.

We are now facing war propaganda about attacks and denials and I wonder how this flexing of muscles is helping to stop this war, I think that the sides needs to reach a compromise soonest so that oil ships can have smooth passage through the strait. I'm sure that what is happening now will be an eye opener for the rest of the world not to majorly depend on refined petroleum products to fuel their vehicles. If there are more electric cars I'm sure that dependency on crude oil that is refined to petrol will drastically reduce.

US yesterday released 22 member crew of seized Iranian ship as part of confidence building measures and now we can hope that things are going in right direction to end this war. This war is important to end not only for US and Iran but for entire world because oil prices are at there 4 year highs. Iran has shown its strength by blocking the strait of Hormuz and US want to take back control of this route before ending this war otherwise its a victory for Iran because Iran can use it as weapon in future too. Mediation are still in progress and hopefully very soon we will hear good news.

[Zlantann]

      These war shouldn't have started from the first place , if Donald trump could have just stuck to campaign promises he made before he got elected to office .rather he went ahead and allowing the war criminal Benjamin natanyahu ( who Is wanted by the ICC court of The  Hague),To influence his decision.
       .Now the US is stuck in war that has seems to have no end, due it excessive demands on Iran to fully neutralise the IRGC ,end  it's proxies and accept harsh terms to stop war, but Iran is not  complying. Yet the Iranians are giving US tougher terms to accept . Which has seen the world to paying for it through skyrocketing of oil price,disruption of shipping and economic fallout.
   
           

The US said that the ceasefire would continue regardless of the recent escalations. The war became more complicated for the US and Israel because it seems they underestimated the military might of Iran. Some political analysts believe that Israeli Prime Minister knows how to influence Trump. That is why it is simple to drag him into several conflicts.   

The earlier the war ends, the better for the global economy.

Given the current situation, predictions that oil prices will reach $180 could become a reality. That would be a disaster for the global economy.

Brent crude futures fell by more than 2% to about $111 today. This might be because the US said the ceasefire would continue. So many countries would go bankrupt if the price of oil were to rise to $180. OPEC has increased production quotas among member states, so the price might not go to that level.

[MFahad]

US yesterday released 22 member crew of seized Iranian ship as part of confidence building measures and now we can hope that things are going in right direction to end this war. This war is important to end not only for US and Iran but for entire world because oil prices are at there 4 year highs. Iran has shown its strength by blocking the strait of Hormuz and US want to take back control of this route before ending this war otherwise its a victory for Iran because Iran can use it as weapon in future too. Mediation are still in progress and hopefully very soon we will hear good news.

Alright, it's not a big deal to let those 22 crew members go and adversaries begin to return each other's people in such confrontations it usually indicates that the ice is beginning to melt. To be honest everyone is impacted by this it's not just about the United States and Iran. The Strait of Hormuz is a major factor in the highest oil prices in last 4 years. Iran has demonstrated its ability to obstruct that path but the United States is certain that no deal is truly a deal unless that path is once again secure. Everyday people are paying the price, even if both sides have their own motivations.

Pakistan's intervention as a mediator is importantfor both Iran and USA. These 22 crews release is a minor move that gives some hope but things won't get better right now. I hope it's the beginning of something greater and that tensions will soon subside

[Cookdata]

Sometimes we have to look at multiple news sources. Trump has repeatedly stated that they won this war and has enthusiastically declared that the US remains invincible. However, conquering the Strait of Hormuz isn't that easy. After Iran's major decision regarding the use of Bitcoin, they also received assistance from China and North Korea to secure ships in the area. But, it's complicated.

      These war shouldn't have started from the first place , if Donald trump could have just stuck to campaign promises he made before he got elected to office .rather he went ahead and allowing the war criminal Benjamin natanyahu ( who Is wanted by the ICC court of The  Hague),To influence his decision.
       .Now the US is stuck in war that has seems to have no end, due it excessive demands on Iran to fully neutralise the IRGC ,end  it's proxies and accept harsh terms to stop war, but Iran is not  complying. Yet the Iranians are giving US tougher terms to accept . Which has seen the world to paying for it through skyrocketing of oil price,disruption of shipping and economic fallout.
        

You really thought he was going to do as he promised during the campaigns? He promised to make a Bitcoin reserve, maybe you forgot that and many people here were so interested in seeing him actualise that idea, but he forgot it like he never made such a promise. His first tenure, it was obvious from the kind of man he was he was, opponent removed him, but went back and cooked stories with a pity card under deception that US doesn't need woman as a leader, now a strong man who like war like the ancient time is in the office makin useless calls to end civilization of a country that is full of millions of people. Some people think he was bluffing when he made those posts on his truth false social.

I was listening to Hegset on the last senate hearing, and he couldn't answer directly all of the questions that were directed at him. It was a war that benefits neither the US nor Iran, but they went ahead with it. The administration they claimed to be a threat is the same administration that is still ruling Iran, the leadership changes nothing, but lives have been lost, properties were destroyed, and Netanyahu is there in Israel enjoying US funds as usual. The silly cycle continues, may God bless help America with their leadership.