Oil rises as Iran threatens retaliation if Trump targets country’s critical infrastructure
Oil tankers and cargo ships are anchored off Sultan Qaboos Port in Muscat, Oman, on June 21, 2026.
Elke Scholiers | Getty Images
Oil prices rose on Friday as investors weighed rising tensions between the United States and Iran after President Donald Trump said Tehran would target regional infrastructure if the country follows through on its threat to attack key facilities.
US West Texas Intermediate futures for August delivery rose 1.32% to $80.09 per barrel. September futures contracts of international benchmark Brent increased by 1.33% to $85.35 per barrel.
In an interview with Fox News on Tuesday, Trump said US forces would target Iran’s infrastructure next week unless the two sides make diplomatic progress.
Responding to a statement posted on Telegram on Thursday, a spokesman for Iran’s top military command warned that if Trump’s threats were carried out, “everything that is still intact, that is, the entire infrastructure in the region, will be destroyed.”
Jorge León, Rystad Energy’s senior vice president, wrote in a note Friday that a limited agreement between Washington and Tehran remains the firm’s baseline scenario, but confidence in that outcome has weakened.
He added that both sides still have strong economic incentives to avoid a complete breakdown in negotiations, with the United States seeking to lower oil prices ahead of midterm elections in November and Iran reluctant to give up economic incentives.
“Tehran has a significant economic package on the table, including access to frozen assets and exemptions from exports, and it does not want to move away from that package permanently,” León said. he said.
