Oil Prices Extend Gains as Trump Intensifies Threats Against Iran Ahead of Deadline

Deep News04-07

Oil prices continued to rise as U.S. President Donald Trump escalated threats, warning that he would destroy key Iranian infrastructure if Tehran failed to meet his demands by Tuesday's deadline.

WTI crude fluctuated above $113 per barrel, after closing Monday at its highest level since June 2022. Brent crude hovered around $110 per barrel. Trump stated on Monday that negotiations with Iran were "progressing well," though he emphasized reopening the Strait of Hormuz as "a very high priority."

Trump declared that Iran would face severe consequences if it did not reach an agreement by the Tuesday 8 p.m. deadline, asserting that U.S. military forces could "destroy all of Iran’s bridges by midnight tomorrow." He further threatened that power plants would "burn, explode, and become permanently unusable." Such actions would violate the Geneva Conventions.

Iran warned that it would retaliate by increasing attacks on energy infrastructure in the Gulf region. This could worsen global fuel shortages and amplify damage to the world economy.

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