Oil prices climbed above $90 a barrel on Tuesday, reaching $91.63, following the expiration of a two-month negotiation window for a peace deal in the U.S.-Israel conflict with Iran. The deadline lapsed on Monday without resolution, fueling regional tensions and disrupting global shipping lanes through the Strait of Hormuz. In a Fox News interview, President Donald Trump demanded Tehran's unconditional surrender and issued a direct threat against Oman, warning against interference in American operations. The escalation followed statements from Iranian officials signaling an offensive military posture, alongside a reported attack on a cargo ship transiting the strait. Brent crude surpassed $90 for the first time since late July, reflecting market anxieties over a prolonged energy supply disruption. Analysts note that diplomatic breakdowns and threats against intermediaries amplify geopolitical risks in global markets, though Trump stated he is not imposing a fresh deadline.
Reviewed by editorial team.
Left: Emphasizes economic pain, diplomatic failure, and reckless presidential rhetoric. Center: Focuses objectively on market numbers, supply constraints, and geopolitical facts. Right: Highlights maximum pressure strategy and necessary resolve against Iranian aggression.
President Donald Trump threatened Oman and discussed ceasefire expiration on Fox News. https://www.theguardian.com/business/2026/aug/18/oil-prices-rise-us-iran-brent-crude-donald-trump
Oil prices jump after US-Iran ceasefire expires and Trump threatens Oman
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