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Oil Rises on New Deadline as Trump Raises the Stakes Over Hormuz

Yongchang Chin

1 min read

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⚡ Quantum Brief

President Donald Trump issued a new ultimatum to Iran, threatening military strikes on civilian infrastructure—including power plants—if the Strait of Hormuz remains closed, escalating tensions in the critical oil chokepoint. Oil prices surged, with Brent crude exceeding $110 per barrel and West Texas Intermediate nearing $113, as markets reacted to the heightened risk of supply disruptions in the region. Iran rejected the U.S. demands, leaving the Strait of Hormuz largely blocked except for limited vessel traffic, deepening the standoff over the vital shipping route. The threat follows a suspected drone strike on an oil warehouse near Erbil, Iraq, on April 1, adding to regional instability amid ongoing geopolitical friction. Trump’s aggressive rhetoric, including warnings of bringing “Hell” to Iran via social media, underscores the volatile diplomatic and economic stakes tied to Middle Eastern oil flows.

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000People watch as smoke billows from an oil warehouse in the Kani Qirzhala area on the outskirts of Erbil, the capital of Iraq's autonomous Kurdistan region, following a suspected drone strike, on April 1.Oil gained as President Donald Trump imposed a fresh ultimatum on Tehran and threatened to strike power plants and other civilian infrastructure in Iran if the Strait of Hormuz is not reopened.Brent climbed above $110 a barrel, while West Texas Intermediate was near $113. In a series of fiery social-media posts, the US president threatened to bring “Hell” to the country. Tehran rejected the latest demands, and the key waterway remains closed to all but a small number of vessels.

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Source: Bloomberg

Website: https://feeds.bloomberg.com/markets/news.rss

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