Oil prices were unstable in Asian trading Monday after Donald Trump threatened to destroy key infrastructure in Iran if ships are not allowed through the Strait of Hormuz.
In a strongly worded social media post, Trump said the U.S. could target power plants and bridges if the route is not reopened soon. Prices briefly rose above $110 a barrel before easing on reports that the U.S. and Iran may be discussing a temporary ceasefire.
Tensions have disrupted oil shipments through the strait, a key route for global energy supplies, raising concerns about shortages and higher prices worldwide. Iran has also warned it will increase attacks if its infrastructure continues to be targeted.
Analysts say oil prices are likely to remain volatile as the conflict continues and markets react to new developments.
