US EditionOil Markets Brace for Volatility as Trump’s Iran Deadline Fuels Escalation Fears
Trump demands Iran open the Strait of Hormuz within 48 hours or face strikes on power plants; Iran threatens Gulf neighbors' energy and water systems amid ongoing conflict.
- On Saturday, Trump posted around 7:45 p.m. EDT and warned Iran it has 48 hours to reopen the Strait of Hormuz or US will 'obliterate' power plants.
- After weeks of strikes, the Strait of Hormuz is effectively closed as Iran's Revolutionary Guards said it will remain shut until destroyed infrastructure is rebuilt, disrupting the shipping lane where a fifth of global oil and LNG normally transits.
- Iranian officials warned on Sunday they would strike energy and water systems of Gulf neighbours if the US hits Iran's electricity grid, with Mohammad Baqer Qalibaf saying critical infrastructure could be 'irreversibly destroyed' and Ebrahim Zolfaqari threatening regional energy, IT, and desalination targets.
- Brent crude and WTI crude traded near multi-year highs as Saudi Aramco's CEO canceled CERAWeek plans and Japan, South Korea and Australia equity markets opened lower on Monday.
- The wider war has killed more than 2,000 people since February 28, Hezbollah fired hundreds of rockets since March 2, and a Reuters/Ipsos poll showed 59% disapprove of U.S. strikes.
12 Articles
12 Articles
Oil Markets Brace for Volatility as Trump’s Iran Deadline Fuels Escalation Fears
Oil prices opened the week elevated but stable in early Asian trading on Monday, holding near multi-year highs after another weekend of escalating tensions between the United States and Iran. At the time of writing, WTI crude was trading at $98.61, up 0.39%, while Brent crude had inched down 0.24% to trade at $111.90. These muted price moves mask an increasingly uncertain environment, with markets bracing for a very volatile session. Late on Sat…
The conflict over the Strait of Hormus continues to intensify. US President Trump threatens to attack Iran's power generation if the sea route is not opened. Tehran counters with new threats. What is at stake now.[more]]>
Will Trump's 48-hour ultimatum to Iram leave him red-faced again?
As a 48-hour deadline looms, Iran has retaliated against President Trump's threat to 'obliterate' its power plants. Tehran warns that energy facilities in countries hosting US bases are now 'lawful targets.' The escalating conflict, now in its fourth week, has already seen cross-border attacks ...
The conflict over the Strait of Hormus is intensifying. Trump threatens to attack Iran's power generation, Tehran counters with warnings to the Gulf states. What is at stake now.
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