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International Business Times
International Business Times
Business

Trump Announces Increased Economic Pressure Against Iran. Oil Prices Jump.

Iran Donald Trump Oil Abbas Araghchi United States
Oil is climbing on Thursday as prospects of an end to the war in Iran get dimmer following President Donald Trump's threat of further economic pressure against the country.

Oil prices are climbing on Thursday as prospects of an end to the war in Iran got dimmer following President Donald Trump's announcement that the U.S. will carry out an "economic D-Day" against Tehran.

Brent crude, the international benchmark, gained around 3% at 8:40 a.m. ET, clocking in at $94.33 per barrel, while West Texas Intermediate, the U.S. benchmark, gained 3.10% at the same time and stood at $87.01 at the same time.

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