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News Topical, Digital Desk : Oil prices rose on Sunday after US President Donald Trump threatened to attack Iranian energy facilities if the Strait of Hormuz is not reopened. Global benchmark Brent crude rose 1.4% to $110.60, while US crude rose 1.8% to $113.60. Trump had said, “Tuesday will be 'Power Plant Day' and 'Bridge Day' in Iran. Both will happen on the same day. This has never happened before!!! Open that strait. Or you'll be in hell, just watch!”
Trump has already threatened Iran.
A senior Iranian official responded on Sunday that the Strait of Hormuz would not reopen until the country receives full compensation for war damage. Trump had given Iran a similar two-day ultimatum on March 21, but later extended the deadline to April 6.
The threat contrasts sharply with Trump's assertion last week that the US does not need the Strait of Hormuz. Oman discussed with Iran on Sunday the possibility of allowing ships to pass through the waterway, according to the Omani Foreign Ministry.
US skyrocketing gas prices
The disruption in oil supplies has pushed average US gas prices to their highest level since 2022. According to AAA data, the price of a gallon of gas rose to $4.11 on Sunday, a nearly 38% increase since the war began.
Read More: Iran attacks Kuwait airbase amid Trump's threat, injuring 15 Americans.
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