Oil prices pushed higher Sunday after President Donald Trump threatened to strike Iranian energy facilities if the Strait of Hormuz is not reopened.
Brent crude, the global benchmark, rose 1.4% to $110.60. US crude rose 1.8% to $113.60.
“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!” Trump posted to Truth Social on Sunday morning.
A senior Iranian official responded Sunday that the strait won’t be reopened until the country is “fully compensated” for war damages.
Trump had issued a similar two-day ultimatum to Iran on March 21, only to extend the deadline to April 6.
The threat is a stark contrast to Trump’s claims last week that the US did not need the Strait of Hormuz.
Oman met with Iran on Sunday to discuss allowing ships through the waterway, according to Oman’s foreign ministry.
OPEC+ nations expressed concerns about attacks on energy sites after a virtual meeting on Sunday. The oil-producing countries noted in a statement that restoring demand is “costly and takes a long time,” after agreeing to increase oil output by 206,000 barrels every day beginning in May.
The oil disruption has pushed average gas prices in the US to their highest since 2022. A gallon of gas rose to $4.11 on Sunday, according to data from AAA. That’s up nearly 38% since the start of the war.
Meanwhile, stocks fell on Sunday after markets were closed on Friday. Dow futures were down 0.69%, or 324 points. S&P 500 futures fell 0.76%, while Nasdaq futures declined 0.91%.
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Pressure boiling over.This was supposed to be like Venezuela, in and out, but it now becomes a war without ending, which is turning the whole world upside down. This title Most Powerful Country in the world, gives him the right to do, and say as he feels, like that whole monolog, which includes”fuckin, and crazy bastards” and No one dares to object. You see it with these congressmen, some who’ve been in politics all their lives, now turn weaklings, dumb to the constitution and what it stands for, just plainly afraid to open their mouths.
The man claims he is a deal maker, but his deal is all about threats, name calling, and revenge. His back is now against the wall, and frustration has kicked in, since he will now have to go through with this threat, even though he knows the huge consequences this will further bring to the world. Turning back now, will show him up, and make him look weak, in the eyes of Russia and China. The big winner in this is Isreal, who now gets the clearance to now carry out what they wanted too. Think about it! They claimed innocent people are being killed, but if he go along with this, imagine the numbers. By the way UN is also a joke, and have no strength.
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