Brent above $110 on Trump’s fresh threats to Iran, OPEC+ output-hike decision caps surge
Global oil prices traded higher on Monday morning after US President Donald Trump threatened potential strikes on Iran’s power and other infrastructure if it fails to revoke the blockade on the Strait of Hormuz by Tuesday.
Concerns of further escalation lifted oil prices. However, gains were capped after the Organization of Petroleum Exporting Countries (OPEC) and its allies, including Russia—together known as ‘OPEC+’—decided to increase production in May.
