US Israel Iran War: United States President Donald Trump has threatened to attack the critical energy, nuclear, power and civilian infrastructure of Iran if it does not unconditionally reopen the strategic Strait of Hormuz immediately. A wave of air strikes conducted by the Israeli army resulted in the death of at least 13 people in Iran.
In an expletive-laden social media post, Trump repeated threats to damage the civilian infrastructure of Iran including power plants and bridges.
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Oil Prices Soar, Markets Crash
In early trade, there was a surge of 1.86 percent in the US benchmark West Texas Intermediate (WTI), reaching to $113.62 a barrel. On the other hand, North Sea Brent Crude rose 1.6 percent, climbing to $110.30 per barrel.
On Monday, benchmark indices Nifty and Sensex declined in early trade as markets fear of further escalation in the ongoing US Israel Iran war.
US Israel Iran War-Trump Warning
In a social media post, the United States President threatened to attack power plants and bridges in the Islamic Republic of Iran.
In another development, eight OPEC+ countries, including Kuwait, Kazakhstan, Algeria, Russia, Saudi Arabia, Oman, Iraq and the United Arab Emirates decided to increase their production capacities. According to a recent announcement, OPEC+ would target an additional supply of about 432,000 barrels every day collectively, starting in May 2026. This measured response would be helpful in alleviating tight global supply without triggering in collapse in oil prices.
According to market data, approximately 1 billion barrels of oil products would be lost by April end, comprising of approximately 350 million barrels of refined products and 600 million barrels of crude oil. It is believed that this could push oil prices to $200 a barrel.
Seyyed Mohammad Mehdi Tabatabaei, the Iranian presidential spokesperson, commented that the strategic Hormuz Strait would be reopened only if Iran is compensated for war damages by some transit revenues.
