17.06.202518:42:34UTC+00Oil Surges 4% as Trump Threatens Iran's Leader

WTI crude oil futures surged by 4.3% to close at $74.8 per barrel on Tuesday, spurred by escalating tensions between the United States and Iran that reignited concerns over oil supply. President Donald Trump of the United States issued a demand for Iran's "unconditional surrender" and directed threats at Supreme Leader Ayatollah Ali Khamenei, referring to him as "an easy target" in various social media posts. This upward movement in prices negated Monday's declines, which had been influenced by optimistic prospects of a ceasefire between Iran and Israel. Despite these latest tensions, the oil market has maintained a level of stability, underpinned by robust global supply characterized by increasing OPEC+ production and unprecedented high levels of output from the US. Analysts highlight that although Israel has targeted Iranian energy facilities, it has refrained from disrupting vital oil export infrastructure, thereby alleviating immediate concerns of a global supply shock. Nonetheless, Goldman Sachs warns that any move by Iran to obstruct the Strait of Hormuz, a critical juncture for worldwide oil transit, could cause prices to surge beyond $100 per barrel.