Oil Prices Rise After Trump's Iran Threats

Conflict in the Middle East continues to impact global energy markets.

Apr. 6, 2026 at 6:35am

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Oil prices rose slightly on Monday as tensions between the U.S. and Iran continued, with President Trump threatening further attacks if Iran did not reopen the vital Strait of Hormuz. The conflict has caused energy shocks that could drive up the cost of living around the world.

Why it matters

The ongoing conflict in the Middle East is disrupting global oil supply and distribution, leading to significant price increases that could have widespread economic impacts, especially for vulnerable regions dependent on oil and gas for essential services.

The details

The price of Brent crude oil, the global benchmark, rose over 0.8% to around $110 per barrel on Monday, a nearly 60% increase since before the war began six weeks ago. Trading was limited due to holidays in parts of Asia and all of Europe. President Trump taunted Iranian leaders, demanding they reopen the Strait of Hormuz, a vital oil shipping chokepoint.

  • The conflict has been ongoing for six weeks.
  • Oil prices rose over 0.8% on Monday, April 6, 2026.

The players

President Trump

The President of the United States who has threatened further attacks on Iran if they do not reopen the Strait of Hormuz.

Iran

The Middle Eastern country involved in the ongoing conflict with the U.S. that has disrupted global oil supply and distribution.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

The takeaway

The ongoing conflict in the Middle East is having significant global economic impacts, with rising oil prices potentially driving up the cost of living around the world and depriving vulnerable regions of essential energy resources.