The Economic Times

Why are oil prices surging after Trumps Iran threats and will Brent crude break $110? Heres latest oil price analysis, crude oil surge, energy market outlook, and global oil price forecast

Oil prices surged sharply on April 2, 2026, as Brent crude climbed above $107 per barrel and WTI hit $108.36. US President Donald Trump warned of extremely hard strikes against Iran in the next two to three weeks. The Strait of Hormuz remains largely blocked, halting roughly 20% of global oil shipments. Markets across Europe and Asia reacted with declines, reflecting fears of prolonged disruption. Oil price analysis shows strong upside pressure. The crude oil forecast now points to volatility, risk premium, and sustained bullish momentum.