Trump's Threats Push Oil Prices Above $70

Global oil prices surged on Thursday as U.S. President Donald Trump escalated tensions with Iran, threatening military action and warning that the window for a nuclear deal is closing.

The sharp rhetoric from Washington immediately rattled energy markets, sparking fears of supply disruptions from one of the world’s most significant crude producers.

In London trading, the international benchmark, Brent North Sea crude, climbed 5.0% to $71.84 per barrel, marking its first rise above $70 since September.

oil (News Central TV) — Trump’s threats pushed oil prices above $70. Credit: Fabrice COFFRINI / AFP

Simultaneously, the U.S. standard, West Texas Intermediate (WTI), spiked 5.1% to settle at $64.43.

Traders remain on high alert as the geopolitical standoff intensifies, signalling a volatile period ahead for global energy costs.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.