Brent Crude Climbs Further After Trump Threats

Brent crude futures rose past $110 per barrel on Tuesday, as President Donald Trump warned that a whole civilization could die tonight ahead of his 8 p.m. deadline for Iran to reopen the Strait of Hormuz. This price escalation followed overnight US strikes on military targets at Kharg Island which serves as the primary Iranian oil export hub. Although officials stated that energy infrastructure was not specifically targeted, the direct military action has intensified global supply fears. Meanwhile, reports indicate that Iran has halted negotiation efforts with the US. While tanker traffic through the waterway marginally improved to eight vessels on Monday the current flow remains a mere fraction of the 20 million barrels that transited daily in 2025. Market participants are now pricing in a higher probability of total regime change as the fog of war remains thick across global energy markets.

Brent crude futures were volatile at around $110 per barrel on Tuesday, as markets awaited US President Donald Trump’s looming deadline for Iran to secure a deal on the Strait of Hormuz. Trump has insisted that any accord must guarantee uninterrupted transit through the vital waterway, warning that failure to comply by 8 p.m. Eastern Time could trigger US strikes on Iranian infrastructure. “Every bridge in Iran could be destroyed by midnight tomorrow, and power plants rendered permanently inoperable,” he said. The heightened rhetoric comes as the six-week-old conflict continues to roil oil markets, sparking the largest disruption to global crude supply in decades. Meanwhile, explosions were reported near the key oil hub of Kharg Island. Overnight, Iran launched seven ballistic missiles and multiple drones at Saudi Arabia, while the Israel Defense Forces reported two missile volleys from Iran since midnight.

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.