Oil prices experienced a notable uptick Tuesday morning, buoyed by recent statements from President Trump indicating an imminent military response to Iran unless diplomatic talks yield results by the set deadline of 8 p.m. ET. Brent crude, the global pricing benchmark, climbed 1.3% to surpass $111 per barrel, while U.S. benchmark West Texas Intermediate (WTI) crude surged by 3.3%, trading around $116 per barrel.
In a post on Truth Social, President Trump projected dire consequences should negotiations fail, stating, “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will.” He hinted at potential diplomatic avenues thereafter, saying, “However, now that we have Complete and Total Regime Change, where different, smarter, and less radicalized minds prevail, maybe something revolutionarily wonderful can happen, WHO KNOWS?”
Over the weekend and during a press conference on Monday, Trump reiterated the ultimatum for Iran to come to an agreement, warning of extensive airstrikes targeting critical infrastructure such as power stations and bridges. “After that, they’re going to have no bridges, they’re going to have no power plants — stone ages,” he asserted.
In response to ongoing tensions, Iran has declared its readiness to launch retaliatory attacks on infrastructure throughout the Gulf region. Reports indicate that overnight, Iranian forces targeted the Jubail petrochemical plant in Saudi Arabia, a key facility in the region.
Additionally, as hostilities escalated, sources indicated that U.S. and Israeli forces conducted strikes on various Iranian infrastructures, including bridges, roads, and an airport, during the night from Monday into Tuesday, as reported by Iranian media.
When pressed for updates regarding the status of negotiations with Iran, Trump stated, “I can’t talk about ceasefire, but I can tell you we have an active willing participant on the other side.” However, Iranian officials have reportedly rejected offers for a temporary ceasefire, insisting they will only consider a full cessation of hostilities accompanied by assurances of reparations for the damage incurred.
