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Mon, 06 Apr 2026

Mon, 06 Apr 2026 Oil prices choppy after expletive-laden Trump threat to Iran

Brent crude rose above $110 before those gains eased after a report of US-Iran talks over a potential ceasefire.
Oil prices saw volatile trading on Monday morning in Asia after US President Donald Trump threatened to attack Iran's critical infrastructure unless it allows ships to pass through the Strait of Hormuz. The threat, made on social media, sparked a surge in Brent crude prices above $110 per barrel before easing as reports emerged of potential US-Iran talks over a ceasefire. According to Axios, the US, Iran, and regional mediators are discussing a 45-day ceasefire that could lead to a permanent end to the conflict. However, the White House did not confirm this report. Before lunchtime in Asia, Brent crude prices stood at $109.80 per barrel, while US-traded oil was stable at $111.62 per barrel. Disruption to shipping through the Strait of Hormuz has pushed up global energy prices and raised concerns about inflation. In response to Trump's threat, the Iranian Revolutionary Guard Corps warned that it would intensify attacks on US economic interests if civilian infrastructure in Iran continues to be targeted. OPEC+ agreed a small increase in crude output in May, but several key members are unable to meet this target due to the conflict. Trump has postponed deadlines for Iran to remove its threats against ships using the Strait of Hormuz, but repeated his demands in a strongly-worded social media post. The post included expletive language and threatened power plants and bridges would be targeted if the waterway is not opened. A US official said that a ground operation to take Kharg Island or seize enriched uranium sites is being considered, while Trump told Fox News there was a "good chance" an agreement would be reached on Monday.