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Oil Prices Surge as Trump Threatens Iran's Trading Partners with Sanctions

Guavy AI Editorial Team
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International and U.S. crude oil futures rose on Friday after U.S. President Donald Trump threatened economic sanctions on Iran's trading partners, raising expectations of tighter supply in the coming weeks.

The Brent benchmark has gained 6.39% this week, while WTI has risen 5.66%, with both touching their highest since July 24 in the previous session.

'Sanctions have been the only thing to bring Iran to heel,' said John Kilduff, partner with Again Capital.

Iran's response to any new U.S. threats would be 'devastating' after Washington pledged to impose the toughest financial penalties in history with the aim of toppling the Iranian leadership, according to a statement from Tehran.

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