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US crude oil prices have reached their highest level since the final days of the Biden administration, just before President Donald Trump begins his second term in January 2025. According to the latest market data, US WTI (West Texas Intermediate) crude rose by about 5.6–6% today, reaching $78.80–79.10 per barrel in the first hours of trading, with a peak of approximately $78.98–79.91.
This level marks the highest intraday peak since January 16, 2025, surpassing previous levels of the current crisis. The sharp rise comes as tensions in the Middle East, including a conflict with Iran that has affected global oil supplies, attacks on tankers and concerns over the Strait of Hormuz, have escalated.
This development has an immediate impact on American consumers: the price of gasoline has reached its highest levels in 11 months, with the national average reaching around $3.25 per gallon (according to AAA), increasing significantly in recent weeks.
In the stock market, rising oil prices have sparked sharp selling, with the Dow Jones falling by around 650–800 points (or 1.3–1.6%) during the morning, reflecting investor concerns about potential inflation, higher energy costs and geopolitical uncertainty. Experts warn that if tensions persist, prices could slide further, jeopardizing the global economic recovery.
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