Oil rises as Trump threatens escalation in war if no deal soonThe Bangchak oil refinery in Bangkok, on Monday. (Photo: Reuters)NEW YORK - Oil prices rose after United States President Donald Trump threatened attacks on Iran’s energy infrastructure, overshadowing his comments that a deal to end hostilities in the Middle East could be close. The contract’s Tuesday expiry further exacerbated thin liquidity, as traders increasingly stay on the sidelines to avoid extreme headline-driven price swings. Market disruption is centered on the Strait of Hormuz, through which about a fifth of the world’s oil flows in normal times. Banks have been scrambling to calculate how the war — and prices — may evolve.

Source: Bangkok Post March 30, 2026 16:21 UTC