Trump’s Iran warning sends oil above $111/bbl

April 7, 2026 (MLN):  Global oil markets climbed further as geopolitical tensions between the United States and Iran deepened, raising concerns over supply disruptions in a critical maritime corridor.

Currently, Brent crude futures is up by $1.01, or 0.92%, to $111.05 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures increased by $2.87, or 2.55%, to $115.28 per barrel by [10:11 am] PST.

 President Donald Trump renewed his warning to Tehran, stating that the U.S. could take swift military action against key infrastructure if Iran does not fully restore access through the Strait of Hormuz., according to CNBC.

The passage is one of the most important routes for global energy shipments, connecting major oil producers in the region to international markets.

President Trump set a firm deadline for Iran to ensure safe and open passage, while also noting that negotiations appear to be ongoing.

He suggested that talks were moving in a positive direction but cautioned that the U.S. is prepared to act if a resolution is not reached.

The standoff has already had a noticeable impact on global energy supplies.

Since the conflict began in late February, reduced tanker movement through the strait has driven up prices for crude oil and refined fuels such as diesel, jet fuel, and gasoline.

There are early indications that shipping activity is beginning to recover, with a slight increase in tanker traffic in recent days.

However, volumes remain well below typical levels seen before the crisis, when the route handled a substantial share of the world’s daily oil flow.

Countries reliant on energy exports from the region are increasingly pushing for a diplomatic solution, concerned about the wider economic fallout. As negotiations continue, global markets remain sensitive to any developments that could either ease or escalate the situation.

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