Donald Trump · White House · Iran · Strait of Hormuz · Israel · CNBC Technology
Oil little changed after Trump makes ominous threat against Iran ahead of deadline to open Strait of Hormuz
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Oil prices were little changed Tuesday, after U.S. President Donald Trump made ominous threats against Iran ahead of his deadline for the Strait of Hormuz to reopen this evening.
Key facts
- U.S. crude oil for May rose 54 cents to close at $112.95 per barrel
- A full resumption of traffic through the strait would still take some time for the actual supply to flow through to Asian economies facing imminent energy shortages, said Wan, who expects a timeline
- Meanwhile, the U.S. struck military targets on Iran's Kharg Island overnight, a White House official told CNBC
- Trump has vowed to decimate Iran's power plants and bridges if Tehran does not reopen the Strait by 8 p.m
Summary
Oil prices were little changed Tuesday, after U.S. U.S. crude oil for May rose 54 cents to close at $112.95 per barrel. "A whole civilization will die tonight, never to be brought back again," Trump said in a social media post. "However, now that we have Complete and Total Regime Change, where different, smarter, and less radicalized minds prevail, maybe something revolutionarily wonderful can happen," the president said. "We will find out tonight, one of the most important moments in the long and complex history of the World," Trump said.