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 climbed above $110 (£83.38) per barrel following a strong statement from US President Donald Trump against Iran. On Monday, Brent crude reached $110.85, up 1.6%, while US crude hit $112.40, a 0.8% increase. Trump’s warning, posted on social media, threatened to target key Iranian infrastructure unless the Strait of Hormuz remained open by Tuesday.

OPEC+ members, including Saudi Arabia and Russia, agreed to a modest output boost in May. However, the 206,000 barrels-per-day hike is unlikely to significantly affect global markets due to ongoing disruptions in Middle Eastern energy shipments. Tehran has vowed to strike vessels passing through the strait in response to US and Israeli airstrikes since late February.

“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”

Trump extended deadlines for Iran to ease tensions but reaffirmed his stance in a fiery post on Truth Social. He hinted at escalating conflict, suggesting a potential oil crisis if negotiations failed. “Tuesday, 8:00 P.M. Eastern Time!” he added, signaling a possible strike. Meanwhile, Iranian attacks on oil facilities in the Gulf persisted over the weekend.

Gen Ali Abdollahi Aliabadi, a senior Iranian military official, dismissed an earlier Trump deadline as “helpless, nervous, unbalanced and stupid.” He warned that the US leader would face severe consequences if Iran’s infrastructure continued to be targeted. The Strait of Hormuz, a vital route for a fifth of global energy transport, has seen heightened tensions, raising concerns over inflation and supply chain stability.