Oil back above $110 after expletive-laden Trump threat to Iran
Oil back above $110 after expletive-laden Trump threat to Iran
Global oil markets saw prices climb above $110 per barrel as US President Donald Trump issued a strong warning against Iran, vowing to strike critical infrastructure unless the Strait of Hormuz remains open. On Monday, Brent crude surged 1.6% to $110.85, while US benchmark oil gained 0.8% to $112.40.
Strait of Hormuz Disruption
Tehran’s threats to block vessels in the strait have disrupted Middle Eastern energy exports, with a fifth of global oil shipments passing through the narrow waterway. This has fueled international concerns over rising energy costs and potential inflationary pressures.
Trump’s aggressive stance unfolded on Sunday via a scathing social media post. The leader declared that the US would target Iran’s power plants and bridges by Tuesday if the country didn’t permit ships to transit the strait. His expletive-filled message read:
“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.”
Hours later, Trump reiterated the deadline on the same platform, stating:
“Tuesday, 8:00 P.M. Eastern Time!”
He told Fox News there was a “good chance” of reaching an agreement on Monday, but warned of a possible escalation if talks stalled.
OPEC+ Output Adjustments
OPEC+ members, including Saudi Arabia and Russia, agreed to a modest crude output increase in May. However, the 206,000 barrels per day hike may not materialize fully due to ongoing tensions affecting production capacity.
Iranian strikes on oil facilities in the Gulf persisted over the weekend, with Tehran claiming responsibility for attacks on petrochemical plants in Kuwait, Bahrain, and the UAE. A senior military officer, Gen Ali Abdollahi Aliabadi, dismissed an earlier Trump deadline, calling it “helpless, nervous, unbalanced and stupid” and predicting “the gates of hell will open” for the US leader.
