Brent Extends Rally as Trump Deadline Nears

2026-04-06 23:29 By Jam Kaimo Samonte 1 min. read

Brent crude futures climbed above $111 per barrel on Tuesday, trading near their highest close since June 2022 as President Donald Trump’s deadline for Iran to strike a deal or face intensified attacks approaches.

Trump warned he would target Iranian power plants and bridges if his conditions are not met by Tuesday 8 p.m.

Eastern Time, including the reopening of the Strait of Hormuz.

This overshadowed signs that the US and Iran may be moving closer to a ceasefire agreement through mediators.

Meanwhile, Tehran cautioned that it would retaliate against potential US strikes on civilian infrastructure by escalating its own attacks on energy assets in the Gulf, potentially worsening the global energy shortage.

Iran’s Foreign Ministry also rejected a temporary truce proposed via Pakistani mediators, insisting on a permanent cessation of hostilities and the lifting of sanctions as conditions for any agreement.



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