Oil Prices Recover Amid Trump's Threats to Iran
World oil prices strengthened again on Wednesday (10/6/2026) after United States President Donald Trump warned Iran regarding the length of peace negotiations. Brent rose 0.8% to US$92.18 per barrel, while United States WTI rose 1.2% to US$89.22 per barrel. This increase occurred after oil prices fell by around 3% in the previous session, reaching their lowest level in seven weeks.
Trump declared that Iran must pay a “price” for delaying the peace deal, and claimed Iran's military had been decimated by the four-month-old joint US-Israel campaign. The threat comes as the US considers possible new attacks on Iran's energy infrastructure, including power plants and strategic bridges, to pressure Tehran to return to the negotiating table.
On the other hand, Iran fired missiles at US military bases in Jordan and several Gulf countries in response to US attacks on Iran's southern regions. Israel also continued attacks in southern Lebanon, targeting Iranian-backed Hezbollah militants. This escalation threatens temporary progress towards de-escalation, which was previously achieved after the two sides briefly agreed to a pause in attacks at Trump's request.
These geopolitical tensions are keeping oil prices high, well above pre-conflict levels, as the risk of supply disruptions from the vital Strait of Hormuz remains looming. This condition has prompted market concerns about a spike in global energy inflation, which could trigger central banks in various countries to consider further interest rate increases.
The latest data shows US consumer inflation rose in May, driven by rising gasoline prices as a side effect of the war in Iran. Meanwhile, US crude oil stocks fell sharply by 9.12 million barrels last week according to the American Petroleum Institute, far exceeding the forecast drop of 3.4 million barrels. Fuel inventories also fell, although distillates rose slightly, adding to concerns about global supplies.
With the market still wary of conflicts in the Middle East and potential disruptions in oil flows, Brent is expected to fluctuate in the short term. Currently Brent is at around US$92 per barrel, with slight upside and downside risks following geopolitical developments and US inventory data.
Source: Newsmaker.id
