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Oil Prices Climb to $110 per Barrel after Trump’s Iran Speech

The main US oil contract, West Texas Intermediate, jumped 10.3 percent to $110.47 per barrel

Kemi Sheriepha by Kemi Sheriepha
April 2, 2026
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Oil prices extended gains on Thursday in the wake of US President Donald Trump threatening further heavy strikes on Iran, dampening hopes of de-escalation.

The main US oil contract, West Texas Intermediate, jumped 10.3 percent to $110.47 per barrel.

International benchmark Brent North Sea crude rose 8.2 percent to $109.40 per barrel.

 

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Kemi Sheriepha

Kemi Sheriepha

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