Oil prices rose on Tuesday, April 7, 2026, while equity markets were mixed as investors digested U.S. President Donald Trump’s latest ultimatum for Iran to reopen the strategic Strait of Hormuz by 0000 GMT on Wednesday (April 8, 2026) or face being “decimated”. The waterway, through which about one-fifth of the world’s crude oil and gas passes, is central to global energy flows and market sensitivity.
As the Middle East war entered its sixth week, Mr. Trump warned Tehran its civilian infrastructure would be destroyed if it did not allow ships to transit the strait. He told a news conference that “the entire country” of Iran “could be taken out in one night and that night might be tomorrow night” if the ultimatum was not met.
Mr. Trump added: “We have a plan… where every bridge in Iran will be decimated by 12 o’clock tomorrow night, where every power plant in Iran will be out of business, burning, exploding and never to be used again.” He dismissed accusations that such actions would amount to war crimes. (AFP)
The comments came as both the U.S. president and Iranian authorities said a proposal promoted by international mediators for a 45-day ceasefire was not yet ready. The unresolved diplomatic effort and the threat to a key shipping lane helped push oil prices higher while leaving broader markets unsettled.
Original Source: https://www.thehindu.com/news/international/iran-israel-war-west-asia-us-donald-trump-strait-of-hormuz-live-updates-on-april-7-2026/article70832715.ece
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Publish Date: 2026-04-07 10:29:00
