Investors nervous over escalation of Middle East conflict as US president says he wants to ‘take the oil in Iran’
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, oilwells 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.
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