economy
Oil prices edge higher after Trump reiterates threat to bomb every bridge and power plant in Iran
President Donald Trump threatened to expand the war to include Iran's infrastructure, while at the same time saying a deal was still possible.
TL;DR
- Oil prices rose as President Trump reiterated threats against Iran's civilian infrastructure.
- Trump demanded Iran reopen the Strait of Hormuz by Tuesday evening.
- The Strait of Hormuz closure has caused the largest oil supply disruption in history.
- Significant losses in crude oil and refined products are projected due to the ongoing conflict.
- OPEC+ agreed to increase production, but the closed Strait complicates delivery.
- Kuwait reported drone attacks on its operational facilities.