Oil rises as OPEC signals continued cuts and US threatens Iran

Bloomberg – Oil rose after Saudi Arabia and other OPEC+ members signaled their intention to keep supplies constrained, while U.S. President Donald Trump ratcheted up tensions with Iran.

Futures in New York jumped as much as 1.7%, before paring some of those gains. Saudi Energy Minister Khalid Al-Falih urged members of OPEC+ gathered in Jeddah to “stay the course” on output cuts. Meanwhile, just weeks after the U.S. tightened sanctions on Iranian crude exports, Trump tweeted: “If Iran wants to fight, that will be the official end of Iran.”

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