Oil prices soar as Trump warns Iran amid rising tensions

Oil prices soared as Trump warned Iran. Brent topped $111, WTI neared $108. Tensions over Hormuz, military moves, and attacks on energy sites raised fears of supply shortages and further price spikes.

Oil prices have surged sharply amid escalating tensions between the US and Iran. Brent crude has surpassed $111 per barrel, while West Texas Intermediate is nearing $108. President Donald Trump issued a stern warning to Iran, stating that time is running out for negotiations and threatening severe consequences if Tehran does not act quickly. The Strait of Hormuz remains a focal point, as its partial closure and threats to tanker traffic have heightened fears of supply disruptions. Reports indicate that the US and Israel are preparing for potential coordinated military operations. Drone attacks on energy infrastructure in the UAE and Saudi Arabia have further fueled concerns about regional security. Iraqi oil exports through Hormuz have plummeted, and the International Energy Agency warns that global oil inventories are falling at a record pace. If the crisis persists, critical shortages may occur. The market is closely monitoring supply signals, with analysts expecting the situation to devolve into a prolonged conflict rather than a peaceful resolution.