Trump Unleashes Economic Warfare on Iran, Sending Oil Prices Soaring

Oil prices surged on Thursday as President Donald Trump announced increased economic pressure against Iran.

The Brent crude benchmark gained around 3% at 8:40 a.m. ET, reaching $94.33 per barrel, while West Texas Intermediate, the U.S. benchmark, rose by 3.10% to $87.01 at the same time.

Trump declared that the U.S. will implement an 'economic D-Day' against Tehran, promising 'the most crushing economic operation ever taken against any country.' He warned that countries allowing financial support for Iran would face 'large economic consequences.'

The Iranian government dismissed Trump's remarks as a diversion from America's own crisis: its soaring national debt and interest costs.