Oil back above $110 after expletive-laden Trump threat to Iran
Oil back above $110 after expletive-laden Trump threat to Iran
Global oil prices surged past $110 (£83.38) per barrel as US President Donald Trump issued a strong warning to Iran, vowing to strike critical infrastructure if the country does not permit ships to transit the Strait of Hormuz. On Monday, Brent crude climbed 1.6% to $110.85, while US crude gained 0.8% to $112.40. The move came following Trump’s fiery social media statement on Sunday, which laid out a clear deadline for Iran to open the vital waterway.
Iran’s recent threats against vessels in the Strait of Hormuz have caused significant delays in energy shipments from the Middle East. This bottleneck, which accounts for a fifth of global energy trade, has heightened fears of inflation as supply chains face further strain. Trump’s latest demands added urgency to the situation, with the president extending earlier deadlines but reinforcing his position through a strongly worded message.
“Tuesday will be Power Plant Day and Bridge Day, all 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!”
“Tuesday, 8:00 P.M. Eastern Time!”
Later that day, Trump reiterated his stance on the same platform, aiming to signal his resolve. Meanwhile, he told Fox News there was a “good chance” an agreement would be reached on Monday, though he warned of more drastic measures if talks stalled.