Oil rises as Trump threatens strikes on Iran energy infrastructure

Oil prices opened higher on Monday after the Easter holiday weekend as President Donald Trump escalated pressure on Iran over the closure of the Strait of Hormuz.

Brent crude futures rose $2.40, or 2.2%, to $111.43 a barrel, while US West Texas Intermediate crude gained $3, or 2.7%, to $114.57 per barrel by last night London time.

In an expletive-laden Easter Sunday social media post, Trump threatened to target Iran’s power plants and bridges on Tuesday if Tehran does not reopen the strait to shipping