Punjab Newsline | New Delhi
Global oil prices witnessed a sharp rise amid escalating geopolitical tensions in West Asia, following a stern warning issued by former US President Donald Trump to Iran. The statement has intensified uncertainty in the global energy market.
The international oil benchmark, Brent crude, rose by 0.74% to reach $109.8 per barrel. Earlier on Sunday, Brent crude had already surged by 1.4% to $110.60 per barrel. Meanwhile, US crude (WTI) also saw a significant jump of 1.8%, closing at $113.60 per barrel.
According to reports, Trump, in a post on the social media platform Truth Social, warned Iran that if the Strait of Hormuz is not reopened immediately, its energy facilities could face potential attacks. Using strong and aggressive language, he hinted at the possibility of firm military action by the United States.
Responding to the statement, a senior Iranian official made it clear that the strategic waterway, Strait of Hormuz, will remain closed under the current circumstances. The official stated that the route would not be reopened until full compensation is made for the damages caused by the ongoing conflict.