Oil prices choppy after expletive-laden Trump threat to Iran

Oil markets remained volatile in early Asian trading as geopolitical tensions intensified following a sharp warning from Donald Trump, who threatened to target key infrastructure in Iran if it fails to keep the Strait of Hormuz open. The strategic waterway, responsible for transporting a large share of the world’s oil, has become the center of the crisis, with Iran signaling possible attacks on vessels in response to ongoing US and allied strikes. Oil prices briefly surged above $110 a barrel on fears of prolonged supply disruption, before trimming gains amid reports of potential ceasefire negotiations involving the US, Iran, and regional mediators. However, uncertainty persists as Iran continues strikes on energy facilities across the Gulf and warns of escalating retaliation. At the same time, efforts by OPEC+ to slightly increase production are unlikely to offset the impact of the conflict, keeping concerns over global supply stability and inflation firmly in focus.