Trump Escalates Iran Threats After Oil Jumps to $115 Per Barrel

Oil markets surged while diplomacy remains uncertain.

Brent crude touched $115 a barrel as tensions in the Iran war escalated, driven by threats from President Donald Trump and ongoing disruptions to global supply routes. According to CBS News, prices briefly spiked before pulling back, while U.S. stocks clawed back some losses after last week’s correction.

The surge follows Trump warning the U.S. could destroy Iran’s oil infrastructure if a deal to reopen the Strait of Hormuz isn’t reached. That waterway carries about 20% of global oil, making any disruption immediately impactful.

At the same time, Trump has claimed “great progress” in negotiations, though Iran has publicly denied direct talks, adding uncertainty to markets.

According to Axios and Reuters reporting, the conflict has expanded with regional attacks and troop deployments, raising fears of prolonged instability.

Analysts say prices could climb higher if supply remains constrained, but projections of $200 oil remain unconfirmed and speculative.

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