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 a barrel following a veiled threat by US President Donald Trump against Iran, which he claimed would target key infrastructure if the Strait of Hormuz remained closed. On Monday morning in Asia, Brent crude increased by 1.6% to $110.85, while US-traded oil rose by 0.8% to $112.40.
In a strongly-worded social media post on Sunday, Trump asserted that the US would launch attacks on power plants and bridges in Iran unless the vital waterway was opened by Tuesday. The disruption of oil and gas shipments from the Middle East has intensified due to Tehran’s warnings of retaliation for US and Israeli airstrikes since February 28. The narrow strait, through which a fifth of the world’s energy flows, has become a focal point of geopolitical tensions, driving up global energy costs and fueling inflation worries.
Iranian forces continued striking oil facilities in the Gulf over the weekend, claiming responsibility for attacks on petrochemical plants in Kuwait, Bahrain, and the United Arab Emirates. The Iranian Revolutionary Guard Corps (IRGC) also warned that further strikes on US economic interests would follow if civilian infrastructure in Iran was targeted. Meanwhile, OPEC+—comprising major oil producers like Saudi Arabia and Russia—agreed to a modest output increase in May, but the 206,000 barrels per day boost is expected to be minimal due to ongoing conflicts limiting production capacity.
Trump’s escalated pressure on Iran
Trump postponed several deadlines for Iran to ease its threats against ships using the Strait of Hormuz but reiterated his demands in a fiery message on Truth Social. The post declared: “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.”
A few hours later, the same platform featured another post: “Tuesday, 8:00 P.M. Eastern Time!” Trump told Fox News that an agreement might be reached on Monday, though he hinted at the possibility of “blowing everything up and taking over the oil” if negotiations stalled.
Iranian response to US threats
Senior Iranian military officer Gen Ali Abdollahi Aliabadi dismissed a prior Trump deadline, labeling it “helpless, nervous, unbalanced and stupid.” He warned that “the gates of hell will open” for the US leader, underscoring the deepening standoff over control of the strategic waterway.
“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”
“Tuesday, 8:00 P.M. Eastern Time!”
