Oil back above $110 after expletive-laden Trump threat to Iran
Oil back above $110 after expletive-laden Trump threat to Iran
International crude oil prices climbed past $110 following a sharp statement from US President Donald Trump regarding Iran’s infrastructure. On Monday, Brent crude reached $110.85, up 1.6%, while US crude hit $112.40, a 0.8% increase. The surge came after Trump issued a fiery warning on social media, vowing to target Iran’s power plants and bridges unless the Strait of Hormuz remains open by Tuesday.
Iran’s threat to attack ships navigating the strait has disrupted energy shipments from the Middle East. This disruption, which occurs in a waterway critical to global trade, has caused energy costs to rise worldwide and heightened fears of inflation. Trump extended deadlines for Iran to ease its stance but reiterated his demands in a strongly worded post.
“Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the Fuckin’ Strait, you crazy bastards, or you’ll be living in Hell – JUST WATCH! Praise be to Allah. President DONALD J. TRUMP”
Later that day, Trump added: “Tuesday, 8:00 P.M. Eastern Time!” He told Fox News there was a “good chance” of a deal on Monday, but warned of potential action if negotiations stalled. The threat underscores ongoing tensions over control of the vital shipping route, which handles a fifth of global energy traffic.
