Oil prices surge past $110 per barrel while global stock markets fluctuate amid President Trump’s looming deadline for Iran to reopen the Strait of Hormuz.
Trump’s Stern Warning on Iran Deal
President Trump addressed the nation from the White House on Monday, expressing belief that reasonable Iranian leaders are negotiating in good faith. He insisted any agreement must meet his standards, including the immediate reopening of the vital Strait of Hormuz shipping route.
Trump warned that failure to reach a deal by the end of the day could prompt strikes on civilian infrastructure. He further stated he could neutralize Iran ‘in one night’ and revert the country to the ‘Stone Ages’ without a resolution.
Investor optimism for a quick end to the conflict faded over the Easter weekend following these remarks.
Market Movements
The FTSE 100 index opened 15 points higher after turbulent trading in Asian markets. Brent crude oil remains highly volatile but trades around $111 a barrel this morning.
