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WTI crude jumps 2.7% after Trump warns Iran of military strikes over Strait of Hormuz blockade

Market News
05 Apr 2026
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WTI crude oil futures surged 2.7% to about $114.59 per barrel after former President Donald Trump threatened Iran with military strikes if it did not open the Strait of Hormuz by Tuesday. This warning came amid rising tensions following a U.S. pilot rescue after Iranian forces downed an aircraft. The geopolitical threat pushed oil prices higher while U.S. equity futures, especially Nasdaq-100, declined due to increased risk concerns. Meanwhile, the crypto market moved opposite, with Bitcoin rising above $69,000 as traders sought decentralized assets during the Easter weekend when traditional markets were closed. The situation remains fluid, with further developments expected to influence energy, equity, and decentralized finance markets at Monday's open.

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