Brent Crude Rises Above $110 After Trump Renews Pressure Campaign Against Iran
Brent crude crossed $110 amid renewed geopolitical tensions involving Iran.
Global oil prices extended their rally for a third consecutive session on Monday, with Brent crude climbing above $110 per barrel and West Texas Intermediate nearing $107, as geopolitical tensions surrounding Iran and continued disruption in the Strait of Hormuz intensified concerns over global energy supplies.
The latest surge follows a sharp rise in crude markets over recent weeks after military tensions involving the United States, Israel and Iran escalated earlier this year. Brent crude has now gained more than 50 per cent since the conflict began, while prices rose nearly 8 per cent last week alone amid fears of prolonged supply disruptions across the Persian Gulf region.
US President Donald Trump further heightened tensions over the weekend by renewing pressure on Iran to accept a negotiated agreement. In a social media post, Trump warned Tehran that “time is of the essence” and said Iran would face severe consequences if talks failed to progress. He later reiterated in an interview that the United States wanted a deal but claimed Iran was “not where we want them to be.”
Also Read: Oil Prices Rise As Iran Conflict Continues To Tighten Global Energy Supplies
The Strait of Hormuz remains central to the global oil market turmoil. The narrow shipping route handles a major share of the world’s crude exports, particularly from Gulf producers including Saudi Arabia, Iraq, Kuwait and the United Arab Emirates. Reduced tanker movement through the strait has tightened supplies, increased shipping insurance costs and forced several countries to seek alternative crude sources.
Additional pressure has emerged after the Trump administration allowed a waiver linked to Russian crude sales to expire, despite requests from countries including India for an extension. Analysts say the move could further constrain supply flexibility in global markets at a time when buyers are already facing uncertainty due to the Middle East conflict. Investment bank Morgan Stanley recently warned that the oil market was now in “a race against time” if disruptions continue into June.
The geopolitical environment remains fragile despite a formal ceasefire announced earlier this year. Reports of drone strikes causing a fire at a nuclear facility in the United Arab Emirates over the weekend renewed fears of further escalation. Iranian media also indicated that negotiations with Washington remain stalled, while Trump is expected to meet senior national security officials again this week, including JD Vance, Marco Rubio and John Ratcliffe, to review developments.
Also Read: Brent Crude Remains Above $104 Amid Fragile US-Iran Ceasefire Talks
