Oil prices climb after new Trump threat against Iran

06/04/2026 04:59 AST

Oil prices climbed on Monday as markets reacted to US President Donald Trump's threat of further action against Iran and set a Tuesday evening deadline linked to the reopening of the Strait of Hormuz.

Brent crude futures rose $1.71, or 1.6%, to $110.74 a barrel by 0057 GMT, while US West Texas Intermediate crude gained $0.71, or 0.6%, to $112.25 a barrel.

The gains came amid continuing fears of supply losses and shipping disruptions in the key oil-producing region, where the US-Israeli conflict with Iran has heightened risks to crude exports passing through the strategic waterway.

Trump on Sunday intensified pressure on Iran, warning in a social media post that the United States could target Iranian infrastructure if shipping through the Strait of Hormuz is not restored.

"Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!" Trump wrote on Truth Social, referring to the shipping route that Tehran has effectively closed since U.S. and Israeli attacks on Iran began more than a month ago.

In a later post, Trump specified the deadline, writing: "Tuesday, 8:00 P.M. Eastern Time!"

Separately, Iraq's state oil marketer SOMO asked customers to submit crude lifting schedules within 24 hours, according to a document reviewed by Reuters, after media reports said Iran had exempted Iraq from restrictions on transit through the Strait of Hormuz.


Trade Arabia

Most Viewed Companies

Ticker Price Volume

Crude Oil

(In US Dollar) Change Change(%)
Brent 109.24 9 8.98
WTI 112.08 13.19 13.34
OPEC Basket 110.63 -12.58 -10.21

Recent News

Oil rebounds as fragile Gulf ceasefire, constrained Hormuz keep supply risks elevated

10/04/2026

Oil prices rose on Thursday as doubts over ?a fragile two-week Middle East ceasefire raised concerns that energy flows through the crucial Strait of Hormuz will remain ?restricted.

Brent cru

Reuters

Oman oil price plunges by $20.25 to $99.06 per barrel

09/04/2026

The official price of Oman crude oil for June delivery settled at $99.06 per barrel on Wednesday. This marks a decrease of $20.25 compared to Tuesday's closing price of $119.31 per barrel.

I

Times of Oman

Oil tumbles below $100 after Trump announces 2-week ceasefire

09/04/2026

Oil fell below $100 a barrel on Wednesday after US President Donald Trump said he had agreed to a two-week ceasefire with Iran, subject to an immediate and safe reopening of the Strait of Hormuz.

Reuters

Why WTI crude is trading above Brent as oil markets price short-term supply risk

08/04/2026

Oil markets plunged on Wednesday morning as investors heaved a sigh of relief with the announcement of a ceasefire in the Iran conflict.

US crude futures down around 15% to $96.31 a barrel,

Khaleej Times

Oil prices drop sharply after US-Iran ceasefire deal

08/04/2026

Oil prices have dropped sharply and stock markets have jumped after the US and Iran agreed a two-week ceasefire deal that includes the reopening of the Strait of Hormuz waterway.

The price o

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap