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2026-04-07 19:54:27
[Oil prices rise after reports of Kharg Island explosion in Iran; market focuses on Trump's deadline] (1) Oil prices rose after Iran's Mehr News Agency reported an explosion on Kharg Island. Trump said at a press conference on Monday that if Iran fails to meet its demands by the 8 p.m. deadline, the United States could destroy all bridges to Iranian power plants within four hours, an escalation that could cause energy prices to jump. (2) In addition, The Wall Street Journal reported that negotiators were pessimistic about Iran meeting Trump's demands and allowing ships free passage through the Strait of Hormuz. But oil prices did not fluctuate significantly, perhaps because the market did not believe that Trump would stick to his deadline. (3) AJ Bell analyst Dan Coatesworth said that either Washington or Tehran would make concessions, triggering a stock market rebound and a drop in energy prices; or the situation would escalate significantly, having various impacts on financial markets. He added that another possibility is that the deadline is extended, and the market will experience another period of unease as it tries to guess the latest moves by both the US and Iran.
