Price of oil hits $116 a barrel after Trump says he wants to ‘take the oil in Iran’
Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict Business live – latest news The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “ take the oil in Iran ”, sending Asian stock markets tumbling. Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island .
Investors nervous over escalation of Middle East conflict as US president says he wants to ‘take the oil in Iran’
Business live – latest news
The price of oil hit nearly $117 (£89) a barrel on Monday as Donald Trump threatened to “blow up” and “completely obliterate” Iranian electricity plants, oil wells and its export hub Kharg Island if it did not agree to a deal.
Brent crude rose after the US president wrote on his social media platform Truth Social that if a deal was not agreed and the strait of Hormuz was not reopened, the US would take further action.
Coverage from 4 sources
- Price of oil hits $116 a barrel after Trump says he wants to ‘take the oil in Iran’Guardian - World · Lauren Almeida · Mar 30, 2026, 7:28 AM
- Brent crude hits $116 a barrel after Trump says he wants to ‘take the oil in Iran’Guardian - World · Lauren Almeida · Mar 30, 2026, 8:23 AM
- Brent crude hits $116 a barrel as Trump threatens to ‘blow up’ Iran’s oil wells and export hubGuardian - World · Lauren Almeida · Mar 30, 2026, 2:06 PM
- Brent crude hits $116 a barrel as Trump threatens to ‘blow up’ Iran’s oilwells and export hubGuardian - World · Lauren Almeida · Mar 30, 2026, 2:06 PM
Coverage by lean
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