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Commodities Score 95 Bearish

Trump's Iran Threats Spark 5% Surge in Brent Crude Prices

Apr 02, 2026 01:49 UTC
CL=F, BZ=F, ^VIX
Immediate term

Oil prices surged as U.S. President Donald Trump vowed to strike Iran 'extremely hard' within weeks, causing Brent crude to rise 5%. The renewed military threats have heightened tensions in the Middle East, impacting global energy markets.

  • Trump vowed to strike Iran 'extremely hard' within weeks, causing a 5% rise in Brent crude prices.
  • U.S. West Texas Intermediate crude futures rose 4.1% to $104.21 per barrel.
  • The Strait of Hormuz, a key oil transit route, has seen traffic halt since the U.S.-Israel war began on February 28.
  • Iran denied Trump's claims about a ceasefire request and control of the strait.
  • Trump's conflicting statements on military escalation and potential negotiations have increased market uncertainty.
  • Brent crude dipped below $100 per barrel earlier in the week after Trump suggested a potential wind-down of operations.

Oil prices experienced a significant surge on Wednesday as U.S. President Donald Trump warned of intensified military action against Iran in the coming weeks. During a national address, Trump stated that the U.S. would 'hit' Iran 'extremely hard' over the next two to three weeks, pushing Brent crude futures for June up 5% to $106.42 per barrel. U.S. West Texas Intermediate crude futures for May also rose 4.1% to $104.21 a barrel. Trump's comments, which included a promise to 'bring them back to the stone ages,' have raised concerns about the potential for prolonged conflict in the region. The U.S. leader also mentioned that discussions with Tehran 'are ongoing,' suggesting that diplomatic efforts remain a possibility. Earlier in the day, Trump had indicated that Iran had requested a ceasefire, which would require the Strait of Hormuz to be 'open, free, and clear' for consideration. However, Iran has denied Trump's claims, asserting that the strait remains under the control of the Islamic Revolutionary Guard Corps Navy. The Strait of Hormuz, a critical transit route for 20% of the world's oil and gas, has seen traffic effectively halt since the U.S.-Israel war against Iran began on February 28. Trump's remarks have created uncertainty in global energy markets, with Brent crude dipping below $100 per barrel earlier in the week after he suggested a potential wind-down of military operations. The conflicting signals from the U.S. administration—hinting at both escalation and de-escalation—have further complicated the outlook for the region and the energy sector.

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