Oil prices climb after Trump threatens Iran over Strait of Hormuz

Source: CNN Business

Updated Apr 5, 2026, 6:28 PM ET
PUBLISHED Apr 5, 2026, 6:13 PM ET


Oil prices pushed higher Sunday after President Donald Trump threatened to strike Iranian energy facilities if the Strait of Hormuz is not reopened. Brent crude, the global benchmark, rose 1.4% to $110.60. US crude rose 1.8% to $113.60.

“Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the Fuckin’ Strait, you crazy bastards, or you’ll be living in Hell - JUST WATCH!” Trump posted to Truth Social on Sunday morning.

A senior Iranian official responded Sunday that the strait won’t be reopened until the country is “fully compensated” for war damages.

Trump had issued a similar two-day ultimatum to Iran on March 21, only to extend the deadline to April 6. The threat is a stark contrast to Trump’s claims last week that the US did not need the Strait of Hormuz.

Read more: https://www.cnn.com/2026/04/05/business/oil-prices-iran-war