Global oil prices exceeds $110 amid Trump threat over Strait of Hormuz

Global oil prices climbed sharply on Monday (April 6) after fresh warnings from US President Donald Trump over the Strait of Hormuz heightened supply concerns.

In Asian trading, Brent crude rose 1.6 per cent to $110.85 per barrel, while US West Texas Intermediate (WTI) crude climbed above $112 to $112.40 per barrel.

The surge followed Trump’s warning on his social platform Truth Social, where he said Iran’s key infrastructure—including power plants and bridges—could be targeted if the Strait of Hormuz is not reopened to shipping by Tuesday.

Tensions in the Middle East have been escalating since late February, with Tehran threatening action against vessels using the vital waterway, raising fears of supply disruptions.

The Strait of Hormuz handles nearly one-fifth of global oil shipments, making it a critical chokepoint for energy markets.

Despite the tensions, OPEC+ has agreed to increase production by 206,000 barrels per day in May. However, uncertainty remains over full implementation, as some member states may struggle to raise output amid the ongoing conflict.