Oil surges after Trump calls Iran response ‘unacceptable’

Oil prices surged following President Trump’s criticism of Iran’s response, exacerbated by the continued closure of the Strait of Hormuz. The global energy market is tightening due to supply concerns, and there are expectations that President Trump will seek China’s intervention in the matter during his visit. ING analysts predict Brent crude will remain above $90 per barrel through 2026.