Oil Prices Top USD108 as Trump Threatens to Hit Iran “Extremely Hard”
Brent, the international benchmark, was changing hands at $108 a barrel — a 6.7% jump — as of 0610 GMT, while U.S. West Texas Intermediate climbed 6.3% to $106.45, as traders scrambled to reprice geopolitical risk across energy markets.
The price explosion was triggered directly by Trump's remarks, which offered no indication of a ceasefire, no diplomatic off-ramp, and no timetable for winding down U.S. military operations — dashing investor hopes for an imminent de-escalation.
Trump left little ambiguity about his intentions: "We're going to hit them extremely hard. Over the next two to three weeks. We're going to bring them back to the Stone Age, where they belong."
The comments marked a sharp reversal in market sentiment. Earlier this week, crude prices had pulled back on growing expectations that Washington might ease its military campaign against Tehran. Those hopes evaporated swiftly following Trump's renewed threats, which refocused attention on the vulnerability of crude flows through the Strait of Hormuz — the narrow Persian Gulf chokepoint through which a significant share of the world's seaborne oil passes daily.
Analysts warned that any sustained disruption to Hormuz transit routes could send prices sharply higher still, compounding inflationary pressures already weighing on the global economy.
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