Brent Crude Approaches $111 Amid Trump’s New Strait of Hormuz Ultimatum
Brent nears $111 as Middle East tensions and OPEC supply cuts keep global markets on edge.
US, Apr 06 : Oil prices opened the week with strong gains, staying well above the $100 per barrel mark on Monday, as ongoing conflicts in the Middle East continue to disrupt vital energy routes and unsettle international markets.
In early trading, US benchmark West Texas Intermediate (WTI) climbed 1.86% to $113.62 per barrel, while North Sea Brent crude rose 1.16% to $110.30 per barrel.
The upward momentum comes amid escalating tensions between Iran and the United States. US President Donald Trump set a Tuesday deadline for Iran to end hostilities and reopen the Strait of Hormuz, a critical corridor for global oil shipments. In a Truth Social post, Trump warned of potential strikes on Iranian infrastructure if demands are unmet, calling the day “Power Plant Day, and Bridge Day, all wrapped up in one, in Iran.” He later suggested to Fox News that a deal could still be reached.
Markets had already reacted strongly in the previous week. Ahead of the Good Friday holiday, both WTI and Brent posted sharp gains WTI rose over 11%, and Brent jumped nearly 8% their largest absolute increases since 2020, reflecting concerns over continued US strikes on Iran.
Adding to market pressure, the Organisation of the Petroleum Exporting Countries (OPEC) announced a production adjustment of 206,000 barrels per day, effective May 2026. The decision followed a virtual meeting on April 5 involving Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman to assess market conditions.
The Strait of Hormuz has been a focal point since February 28, when initial strikes by the US and Israel against Iran escalated regional conflict. With Iran effectively controlling the chokepoint—through which roughly 20% of global oil and gas flows supplies have been significantly constrained. Refiners are increasingly turning to alternative sources, including cargoes from the US and the UK North Sea, pushing crude prices higher.
