Oil rose as US President Donald Trump signaled that an escalation in strikes on Iran could come as soon as Tuesday, heightening fears that imminent military action will derail tentative progress toward restoring energy flows through the crucial Strait of Hormuz.
West Texas Intermediate swung in a roughly $6.60 range before ultimately settling up 0.8% at above $112 a barrel. Trump said that Iran might be “taken out” by Tuesday night if no deal is achieved. That came just after the Wall Street Journal reported the US military is making preparations for potential strikes on energy targets in Iran. The ...
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