The prices of oil futures pared previous losses on Tuesday, trading in the green as market optimism faded once more following US President Donald Trump’s reiteration of his warning to destroy Iran’s civilian infrastructure if the Islamic Republic does not agree to reopen the Strait of Hormuz. He also threatened to destroy every bridge and power plant in Iran within hours of his “final” Tuesday deadline.
WTI for deliveries in May added 2.6% at 12:52 am ET and went for $115.33 per barrel. At the same time, Brent for settlements in June rose by 1.32% to sell for $111.24 per barrel.