Brent Jumps as US, Iran Trade Threats

2026-03-23 07:40 By Jam Kaimo Samonte 1 min. read

Brent crude futures climbed above $113 per barrel on Monday, on track for their highest close since mid-2022 as investors assessed Trump’s ultimatum urging Iran to reopen the Strait of Hormuz.

Over the weekend, Trump warned he would “obliterate” major Iranian power plants if the waterway is not reopened to shipping by late Monday.

In response, Tehran said it would target US and Israeli assets across the region, including energy, information technology and desalination infrastructure, if its own energy facilities were struck.

A senior Iranian official also warned that financial entities purchasing US Treasuries could be considered “legitimate targets.” Oil prices have surged roughly 50% since the Iran war began, as the conflict shows no signs of easing, effectively shutting Hormuz and sharply reducing Middle Eastern oil production.

A coordinated release of strategic reserves and US efforts to facilitate the sale of Russian and Iranian oil have so far failed to curb the rally.



News Stream
Brent Jumps as US, Iran Trade Threats
Brent crude futures climbed above $113 per barrel on Monday, on track for their highest close since mid-2022 as investors assessed Trump’s ultimatum urging Iran to reopen the Strait of Hormuz. Over the weekend, Trump warned he would “obliterate” major Iranian power plants if the waterway is not reopened to shipping by late Monday. In response, Tehran said it would target US and Israeli assets across the region, including energy, information technology and desalination infrastructure, if its own energy facilities were struck. A senior Iranian official also warned that financial entities purchasing US Treasuries could be considered “legitimate targets.” Oil prices have surged roughly 50% since the Iran war began, as the conflict shows no signs of easing, effectively shutting Hormuz and sharply reducing Middle Eastern oil production. A coordinated release of strategic reserves and US efforts to facilitate the sale of Russian and Iranian oil have so far failed to curb the rally.
2026-03-23
Brent Remains Volatile
Brent crude futures traded above $113 per barrel on Monday after climbing to as high as $115 earlier in the session, as investors assessed President Donald Trump’s ultimatum urging Iran to reopen the Strait of Hormuz. Over the weekend, President Donald Trump warned he would “obliterate” major Iranian power plants if the waterway is not reopened to shipping by late Monday. In response, Tehran said it would target US and Israeli assets across the region, including energy, information technology and desalination infrastructure, if its own energy facilities were struck. Oil prices have surged roughly 50% since the Iran war began, as the conflict shows no signs of easing, effectively shutting Hormuz and sharply curbing Middle Eastern oil production. The IEA has cautioned that the global oil market is facing its largest-ever shock despite a substantial release of emergency reserves and US efforts to facilitate the sale of Russian and Iranian oil.
2026-03-22
Brent Prices Remian Near 4-Year High
Brent oil prices slipped into negative territory after a modestly higher open on Monday, but remained near $108 per barrel, their highest levels in almost four years as investors were monitoring escalating US and Iranian threats against energy infrastructure. Over the weekend, President Trump warned that he would “obliterate” major Iranian power plants if the Strait of Hormuz is not reopened to shipping by late Monday. In response, Iran’s foreign minister threatened retaliatory strikes on vital infrastructure used by Israel, the United States, and Gulf nations, including power stations, telecommunications networks, and water desalination facilities.
2026-03-22