<\/p>\n
Oil rose a third day as President Donald Trump escalated threats to obliterate key Iranian infrastructure if his terms aren\u2019t met before a Tuesday deadline.<\/p>\n
Brent traded above $111 a barrel after adding 0.7% in the prior session, while West Texas Intermediate was around $115 after closing at its highest since June 2022. Trump said Monday that talks with Iran are \u201cgoing well,\u201d even as he listed reopening the Strait of Hormuz as \u201ca very big priority.\u201d<\/p>\n
The US president laid bare the consequences Iran would face if it doesn\u2019t reach a deal by his 8 p.m. Eastern Time Tuesday cut-off, saying the US military could destroy \u201cevery bridge in Iran by 12 o\u2019clock tomorrow night.\u201d Power plants would be rendered \u201cburning, exploding and never to be used again,\u201d he said, which would be a breach of the Geneva Conventions.<\/p>\n
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Iran has warned that it would respond to such strikes by ramping up its own attacks on energy infrastructure in the Persian Gulf \u2014 a move that could heighten the global fuel squeeze and amplify damage to the world economy. The war \u2014 which is now in its sixth week \u2014 has roiled crude markets, triggering a severe supply shock.<\/p>\n
\u201cIf Trump does move into \u2018decimation\u2019 mode and Iran follows through with \u2018more crushing\u2019 and \u2018more extensive\u2019 retaliatory attacks, we expect to see momentum building above $110, toward $120,\u201d said Robert Rennie, head of commodity research at Westpac Banking Corp. \u201cHowever, if Trump extends, again, then we remain in the current $95-$110 range for now.\u201d<\/p>\n
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As the war grinds on, there are signs of deepening concern about near-term supply. WTI\u2019s prompt spread \u2014 the difference between its two nearest contracts \u2014 at one point traded near $15.50 a barrel on Monday, near the biggest premium on record. The widening was ushered in by firming expectations of tighter US supplies as overseas buyers rush to purchase American crude.<\/p>\n
Prices:<\/p>\n
Brent for June settlement rose 1.3% to $111.23 a barrel at 7:45 a.m. in London.
\nWTI for May delivery advanced 2.2% to $114.86 a barrel.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Oil #rises #day #Trump #threats #escalate #deadline<\/p>\n","protected":false},"excerpt":{"rendered":"
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