{"id":1589,"date":"2026-06-10T19:10:04","date_gmt":"2026-06-10T19:10:04","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1589"},"modified":"2026-06-10T19:10:04","modified_gmt":"2026-06-10T19:10:04","slug":"oil-prices-jump-after-trump-threatens-to-hit-iran-very-hard","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1589","title":{"rendered":"Oil prices jump after Trump threatens to hit Iran &#8216;very hard&#8217;"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>NEW YORK, June 10 (Reuters) &#8211; Oil prices rose nearly $3 a barrel on Wednesday after President Donald Trump said the U.S. is going to attack Iran &#8220;very hard&#8221; \u200cif no peace deal is finalized and as market data showed a larger-than-expected drawdown in U.S. crude inventories.<\/div>\n<div>Brent crude futures were up $2.63, or 2.8%, at $94.06 a barrel at 1:07 p.m. EDT (1707 GMT), while U.S. West Texas Intermediate (WTI) crude rose $2.93, or 3.3%, to $91.12 a barrel, after earlier touching a session high of $91.47.<\/div>\n<div>Trump reiterated that Iran would be attacked on Wednesday. He made \u200bthe remark after scolding Tehran in a Truth Social post for allegedly prolonging negotiations following tit-for-tat strikes overnight.<\/div>\n<div>&#8220;Oil prices have shifted from anxiety to apathy \u200band back again amid renewed skirmishes between the U.S. and Iran,&#8221; said Phil Flynn, senior analyst at the Price \u2060Futures Group.<\/div>\n<div>Trump also announced on Wednesday that the U.S. has been taking &#8220;millions of barrels&#8221; of oil out of Iran, without sharing any other details \u200babout these operations.<\/div>\n<div>Separately, the U.S. Department of Treasury issued a fresh round of Iran-related sanctions that targeted six individuals and four entities, including some tied to \u200bChina, according to a notice posted on its website on Wednesday.<\/div>\n<h2>FOCUS BACK ON WAR RISKS<\/h2>\n<div>The U.S. military struck Iranian targets after Trump vowed on Tuesday to respond to the downing of a U.S. Apache attack helicopter.<\/div>\n<div>The U.S. military also carried out a &#8220;precision&#8221; strike on a vessel in the Gulf of Oman that failed to follow its instructions and was carrying oil from \u200bIran, it said, while India said three of its seafarers were missing after the attack.<\/div>\n<div>&#8220;While diplomatic efforts remain ongoing, the latest military exchanges have \u200breintroduced a geopolitical risk premium into oil markets,&#8221; said Priyanka Sachdeva, senior market analyst at Phillip Nova.<\/div>\n<div>In what could further complicate talks, the U.N. nuclear watchdog&#8217;s 35-nation Board of Governors \u200cpassed a \u2060U.S.-backed resolution on Wednesday telling Iran to declare its remaining enriched uranium stocks and let inspectors verify them.<\/div>\n<div>Global crude oil stock draws are underpinning prices, but lower Chinese crude oil imports are helping to keep a ceiling, PVM analyst Tamas Varga said.<\/div>\n<div>The limited flow of shipping through the Strait of Hormuz could also be capping prices, Varga said, as some ships transit the strategic waterway, but traffic remains significantly below pre-war levels.<\/div>\n<div>Iran has continued to block most shipping through the Strait, \u200bwhich normally carries a fifth of \u200bthe world&#8217;s crude oil and liquefied \u2060natural gas, while Washington has imposed its own blockade of Iranian ports.<\/div>\n<div>U.S. Energy Secretary Chris Wright, however, said on Tuesday that ship traffic in the Gulf and oil exports through the strait are rising even as Washington and Tehran struggle \u200bto reach a deal to end a war now in its fourth month. Soaring energy prices caused U.S. consumer inflation to \u200bincrease at the \u2060fastest pace in three years in May. Traders are now betting that the Federal Reserve will raise interest rates in December.<\/div>\n<div>Weekly data from the U.S. Energy Information Administration showed that U.S. crude stocks fell sharply last week as refiners continued to boost activity to fill supply gaps caused by the Iran war. Crude inventories fell by \u20607.2 million \u200bbarrels in the week ended June 5, the agency said, compared with analysts&#8217; expectations in a \u200bReuters poll for a draw of 4 million barrels.<\/div>\n<div>The data also showed that inventories in the U.S. Strategic Petroleum Reserve are now at their lowest levels since August 2023.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1587\">Mapping the Market: S&amp;P 500 on shaky ground as key test looms<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1585\">Wall St falls as tech losses, Middle East tensions deepen<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1583\">Volatile summer weather threatens to turn World Cup into test of heat<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rose nearly $3 a barrel on Wednesday after President Donald Trump said the U.S. is going to attack Iran &#8220;very hard&#8221; \u200cif no peace deal is finalized and as market data showed a larger-than-expected drawdown in U.S. crude inventories.<\/p>\n","protected":false},"author":1,"featured_media":1588,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[21,86,29],"class_list":["post-1589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-energy","tag-storage","tag-transport-fuels"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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