Oil prices surge with Brent rising 5% as Trump vows to hit Iran ‘extremely hard’ within weeks
The Liberia-flagged crude oil tanker Shenlong Suezmax efficiently docked at Mumbai Port after navigating the high-risk Strait of Hormuz amid the intensifying West Asia battle on March 11, 2026 in Mumbai, India.
Hindustan Times | Getty Images
Oil jumped in risky buying and selling as US President Donald Trump warned of additional army aggression in opposition to Iran within the subsequent two or three weeks, dampening hopes for an imminent de-escalation within the battle.
US West Texas Intermediate crude futures for May gained 4.1% to $104.21 a barrel as of 9:45 pm ET. International benchmark Brent crude futures for June rose 5% to $106.42 per barrel.
Trump stated the US will “hit” Iran “extremely hard” over the subsequent two or three weeks throughout a nationwide handle on Wednesday. “We’re going to hit them extremely hard over the next two to three weeks,” he stated. “We’re going to bring them back to the stone ages, where they belong.”
Trump added that the struggle will not final lengthy and discussions with Tehran “are ongoing,” leaving a diplomatic decision on the desk. “We are going to finish the job, and we’re going to finish it very quickly,” he stated.
Brent
Earlier on Wednesday, Trump stated in a post on Truth Social that Iran had asked for a ceasefireelevating hopes for extra oil tanker motion by way of the Strait of Hormuz. Traffic within the important strait, which used to see 20% of the world’s oil and fuel flows by way of, has successfully floor to a halt for the reason that US-Israel struggle in opposition to Iran started on Feb. 28.
Iran’s “New Regime President” has requested the US for a ceasefire, a request will solely be thought-about if the Strait of Hormuz is “open, free, and clear,” Trump stated. “Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!”
The Islamic Republic, nonetheless, has denied Trump’s claimsaying that the waterway will not be reopened primarily based on the US chief’s “absurd displays” and that the important thing transit route stays “decisively and dominantly under the control of the IRGC Navy.”
The two sides have continuously contradicted one another’s claims concerning the existence and standing of peace-deal talks for the reason that struggle began. Trump has additionally despatched conflicting indicators, reportedly saying negotiations have been shut to producing a peace deal, however the US was additionally ready to escalate combating by sending 1000’s of troops to the area.
Brent oil dipped below $100 per barrel For the primary time in per week after Trump stated Tuesday night that he anticipated the US army to wind down operations in opposition to Iran in “two or three weeks” and appeared to be declaring victory even and not using a negotiated deal with Iran. “We’ll be leaving very soon,” he stated.
