Oil extends gains as Trump threatens strikes on critical Iranian infrastructure

Oil prices rose after Trump threatened to bomb Iranian infrastructure if there are any attacks on ships transiting the Strait of Hormuz. The escalation risk around a key global chokepoint is likely to tighten supply expectations and support near-term crude prices.

Analysis

Oil prices rose after Trump threatened to bomb Iranian infrastructure if there are any attacks on ships transiting the Strait of Hormuz. The escalation risk around a key global chokepoint is likely to tighten supply expectations and support near-term crude prices.