Oil back above $110 after expletive-laden Trump threat to Iran
Rising Oil Prices Amid Tensions with Iran
World oil markets have rebounded above $110 per barrel following a provocative statement from US President Donald Trump. The surge occurred as Brent crude climbed to $110.85 in Asia on Monday, while US crude prices hit $112.40. Trump’s latest warning, delivered via social media on Sunday, included a fierce promise to strike vital Iranian infrastructure unless the Strait of Hormuz remains open by Tuesday.
Strait of Hormuz Disruptions
Shipping in the Strait of Hormuz, a critical chokepoint for global energy transport, has faced major interruptions. Tehran has threatened to target vessels using the strait in response to US and Israeli strikes since late February. This disruption, which affects a fifth of worldwide oil shipments, has sparked fears of inflationary pressures across the globe.
Iran’s attacks on Gulf oil facilities continued over the weekend, with the country claiming responsibility for strikes on petrochemical sites in Kuwait, Bahrain, and the United Arab Emirates. The Iranian Revolutionary Guard Corps (IRGC) issued a warning that its offensive against US economic interests would escalate if civilian infrastructure in Iran remains under threat.
OPEC+ Output Adjustments
OPEC+ members, including Saudi Arabia and Russia, agreed to a modest crude output increase in May. However, the planned 206,000 barrels-per-day boost will likely remain theoretical, as several key producers face constraints due to ongoing conflict. Trump’s repeated demands have also delayed deadlines for Iran to ease its threats against ships traversing the strait.
Trump’s Strong-Willed Statements
On Sunday, Trump posted a scathing message on Truth Social: “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, he reiterated the timeline on the same platform: “Tuesday, 8:00 P.M. Eastern Time!” Trump told Fox News that an agreement was possible on Monday, but hinted at potential escalation if negotiations stalled. He mentioned the possibility of “blowing everything up and taking over the oil” as a last resort.
Iranian Reactions
A senior Iranian military official, Gen Ali Abdollahi Aliabadi, criticized Trump’s earlier deadline, calling it “helpless, nervous, unbalanced and stupid.” He added, “the gates of hell will open” for the US leader, reflecting Tehran’s defiance in the escalating standoff.
