Trump warns of strikes on Iran before ceasefire deadline
This overview shows oil tanks and facilities at the Yeosu National Industrial Complex, South Korea’s largest petrochemical industrial complex, in Yeosu on April 7, 2026. (Photo: Shin Yong-ju / AFP via Getty Images)
Shin Yong-ju | Afp | Getty Images
Oil prices fell during Asian hours on Tuesday due to uncertainty over the outcome of the second round of peace talks between the United States and Iran.
Reports, Vice President J.D. Vance Leading the US delegation to PakistanIran’s rhetoric so far shows that this is not the case We are ready for further negotiations.
“We do not accept negotiations under the shadow of threats and have been preparing for the last two weeks to reveal new cards on the battlefield,” Iranian parliament speaker Mohammad Bagher Galibaf said in a post on channel X on Tuesday. he said.
Meanwhile, US President Donald Trump reiterated his threat of intense military action against Iran and warned of “lots of bombs” [will] If no agreement is reached before the fragile ceasefire ends on Tuesday evening, we will begin to depart.
West Texas Intermediate futures for May delivery decreased by 1.51% to $88.26 per barrel, while international reference Brent crude futures for June delivery decreased by 0.68% to $94.87 per barrel. WTI and Brent traded 7 percent and 5 percent higher on Monday.
Trump has returned to more aggressive rhetoric in recent days, alternating between escalating tensions and references to negotiations; Tensions escalated after US forces seized an Iranian ship on Sunday as Trump continued his blockade of Iranian ports.
Rystad Energy said in a note Tuesday that the disruption at Hormuz has already led to a major uptick in its 2026 oil price outlook and warned that if oil prices reach $100 and remain there, it could unlock as much as 2.1 million barrels per day of new supply from South America.
“South America is now positioned as the world’s most important source of growing supply,” said Radhika Bansal, senior vice president at Rystad Energy.
“The conflict in the Middle East has done more than raise oil prices; it has exposed how dangerously concentrated global supply chains are around the Strait of Hormuz,” he added.
