{"id":698739,"date":"2026-05-04T00:00:00","date_gmt":"2026-05-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=698739"},"modified":"2026-05-04T12:17:59","modified_gmt":"2026-05-04T12:17:59","slug":"oil-prices-rise-amid-reports-of-us-iran-confrontation-in-the-gulf","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/oil-prices-rise-amid-reports-of-us-iran-confrontation-in-the-gulf\/","title":{"rendered":"Oil prices rise amid reports of US-Iran confrontation in the Gulf"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, ladies and gents, and welcome back. <\/strong>It\u2019s a breezy day in C-town, and we\u2019ve got a brisk issue to match. In today\u2019s edition, we\u2019re taking a look at the Egyptian designers who showcased their work at Milan Design Week, check out Prime Video\u2019s latest hit starring Riz Ahmed, list the footie we\u2019re watching tonight, and more.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First things first, the news\u2026<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> \ud83c\udf10 <strong>Still<\/strong><strong> making headlines this afternoon are tensions in the Strait <\/strong><strong>of Hormuz. <\/strong>After US President Donald Trump announced that US troops would guide stranded ships out, Iran\u2019s navy claims it blocked US ships from entering the strait and threatened to attack any US forces breaking its blockade. Iran also says two missiles hit a US vessel, though US Central Command denies any strike. Following these latest developments, oil prices traded 5% higher, with Brent reaching nearly USD 112 \/ bbl and WTI at USD 105 \/ bbl at the time of publication. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^Read more on: <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/c1wz2ld4535t\" style=\"\">BBC<\/a>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/04\/oil-prices-today-wti-brent-trump-iran-us-hormuz.html\" style=\"\">CNBC<\/a>, <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2026\/05\/04\/world\/live-news\/iran-war-hormuz-trump\" style=\"\">CNN<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/iran-war-live-tehran-issues-warning-after-trump-offers-us-help-ships-hormuz-2026-05-04\/\" style=\"\">Reuters<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/173.gif?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important business stories in MENA aren\u2019t happening inside MENA anymore<\/strong> \u2014 they\u2019re happening at the edges, where regional capital meets global ambition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM MENA+ is our new flagship newsletter<\/strong>, built to cover the flows of capital, people, and ideas across the Middle East \u2014 and beyond it. AI, geopolitics, the war for talent, sovereign wealth strategy, the changing energy economy, and the new corridors reshaping global trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 11am Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Anchor investors in homegrown financial services player GlobalCorp are <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/spe-capital-amethis-ebrd-line-up-exit-from-globalcorp\/\" style=\"\">looking to exit<\/a><\/strong><strong> the company<\/strong> in a transaction that could see up to 100% of the company change hands \u2014 the transaction is expected to close within two to four months;<\/li>\n<li><strong>Egypt\u2019s aquaculture sector is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/foreign-investors-circle-aquaculture-sector-after-eu-export-green-light\/\" style=\"\">casting the net<\/a><\/strong><strong> towards the Mediterranean and European markets<\/strong>, courting investment pitches from Greece and Algeria for farmed fish imports;<\/li>\n<li><strong>The automotive industry is set to receive bumps ranging from 2.5-5.5%. <\/strong>The decision \u2014 which includes bus and component manufacturing \u2014 is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/egypt-earmarks-egp-5-5-bn-for-new-automotive-export-subsidies\/\" style=\"\">expected to unlock<\/a> significant production capacity and drive a surge in fresh foreign investment interest.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER-<\/strong> We\u2019re in for another breezy day in the capital tomorrow, with the mercury set to peak at just 24\u00b0C, with a low of 13\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gents, and welcome back. It\u2019s a breezy day in C-town, and we\u2019ve got a brisk issue to match. In today\u2019s edition, we\u2019re taking a look at the Egyptian designers who showcased their work at Milan Design Week, check out Prime Video\u2019s latest hit starring Riz Ahmed, list the footie we\u2019re watching [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":698740,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,716,117,7263,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-698739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-iran","tag-us","tag-war","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"46f93060-bdcb-4c28-90b7-0488064eaa40","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/5\/181.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oil prices rise amid reports of US-Iran confrontation in the Gulf","related_issue":[698737],"teaser":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oil prices rise amid reports of US-Iran confrontation in the Gulf - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/oil-prices-rise-amid-reports-of-us-iran-confrontation-in-the-gulf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil prices rise amid reports of US-Iran confrontation in the Gulf\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gents, and welcome back. 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