Trump threatens to destroy Iran's oil facilities, causing international oil prices to surge.

2026-04-05 12:00:48

Local time on March 30, international oil prices rose sharply amid expectations of an escalation in conflict in the Middle East. By that day’s close, the May-delivery light sweet crude oil futures contract on the New York Mercantile Exchange rose by $3.24, settling at $102.88 per barrel, a gain of 3.25%; the May-delivery London Brent crude oil futures contract rose by $0.21, settling at $112.78 per barrel, a gain of 0.19%. On the same day, U.S. President Trump said that if Iran failed to accept a peace agreement promptly and reopen the Strait of Hormuz, the U.S. would destroy Iran’s oil hub of Khark Island and its oil wells, power facilities, and other infrastructure. Trump also said that the U.S. and Iran are currently conducting “serious negotiations,” but warned that if the talks break down, the U.S. would carry out military strikes on Iran-related infrastructure. The market is concerned that if the situation further deteriorates, energy supplies will face a greater impact. (CCTV News)

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