Oil prices climb post Trump’s ultimatum to Iran over Strait of Hormuz closure - Babushahi.com

Baljit Balli, Editor

NEWS FLASH
Apr 06, 2026Transfer/ Posting Alert: Chief Director Vigilance Among 6 Senior IPS Officers Transferred Apr 06, 2026Four sons lost to drugs, fifth at risk: Tragedy strikes family in Sultanpur Lodhi Apr 06, 2026Top News Stories of April 6 till 8:30 pm (Also Watch Video) Apr 06, 2026Punjab Govt clears prosecution of DIG in drugs and corruption case Apr 06, 2026Transfers Breaking: Six Seniors IPS officers transferred Apr 06, 2026Punjab CM Mann flags off 250 new buses for PRTC fleet Apr 06, 2026CM Mann: Punjab power sector now profitable even with free electricity to 90% households Apr 06, 2026Punjab CM Mann alleges power theft at Akali Dal rally, calls leaders ‘habitual looters’ Apr 06, 2026Punjab Govt unveils Rs 1,388 crore agriculture plan to tackle stubble burning and water crisis Apr 06, 2026Dr. Menaka Guruswamy makes history as India’s first Queer MP, takes oath in Rajya Sabha Apr 06, 2026Breaking: 9 cops sentenced to death in father-son custodial torture, killing case Apr 06, 2026Trident Group launches ‘Takshashila 2026’, Offers 2000+ opportunities to skilled professionals Apr 06, 2026Man places 'bouquet' at Delhi Assembly premises after forcibly entering complex; no bomb found Apr 06, 2026Three-Day training for Anganwadi Workers held under ‘Poshan Bhi Padhai Bhi’ Apr 06, 2026BBMB installs early warning system along Beas river to alert residents on water release

Oil prices climb post Trump’s ultimatum to Iran over Strait of Hormuz closure

By : Babushahi Bureau

First Published : Monday, Apr 06, 2026 12:18 PM
2. Twitter
3. Whatsapp
4. Send Email
  
  ×
  Email this news
5. ← Go Back
- Twitter
- Whatsapp
- Send Email
  
  ×
  Email this news
- ← Go Back
- Oil prices climb post Trump’s ultimatum to Iran over Strait of Hormuz closure
  
  New Delhi, April 6, 2026 (ANI): Oil prices climbed on Sunday after US President Donald Trump threatened to strike Iranian energy facilities if the Strait of Hormuz remains closed, CNN reported, as Brent crude rose 1.4 per cent to reach USD 110.60.
  
  US crude similarly increased by 1.8 per cent, settling at USD 113.60. As per CNN, the price surge followed a series of aggressive social media posts from the President directed at the Iranian government.
  
  “Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the Fn’ Strait, you crazy b**s, or you’ll be living in Hell - JUST WATCH! Praise be to Allah,” Trump posted to Truth Social on Sunday morning.
  
  According to CNN, a senior Iranian official responded to the warning later that day, stating that the waterway would not be reopened under current conditions. The official maintained that the strait will remain closed until the country is “fully compensated” for war damages.
  Trump previously issued a two-day ultimatum to Iran on March 21, but eventually extended that deadline to April 6.
  
  Amid the rising tensions, Oman’s foreign ministry confirmed that its representatives met with Iranian officials on Sunday. The discussions focused on potential terms for allowing merchant ships to resume passage through the waterway.
  
  Simultaneously, the Organization of the Petroleum Exporting Countries (OPEC) addressed global supply concerns following a virtual meeting of eight member nations. Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman reviewed market conditions and agreed to implement a production adjustment of 206 thousand barrels per day (kbd) starting in May 2026.
  
  “In their collective commitment to support oil market stability, the eight participating countries decided to implement a production adjustment of 206 thousand barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023. The 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner,” the release stated.
  
  Saudi Arabia and Russia are each slated to contribute 62 kbd to the monthly increment. Other adjustments include 26 kbd from Iraq, 18 kbd from the UAE, 16 kbd from Kuwait, and 10 kbd from Kazakhstan. Algeria and Oman will add 6 kbd and 5 kbd, respectively, to their output.
  
  Based on these increments, the required production for May 2026 is set at 10,228 kbd for Saudi Arabia and 9,699 kbd for Russia. Iraq’s required production will reach 4,326 kbd, while the UAE and Kuwait are scheduled for 3,447 kbd and 2,612 kbd. Kazakhstan, Algeria, and Oman round out the group with requirements of 1,589 kbd, 983 kbd, and 821 kbd, respectively.
  
  The eight countries confirmed they will hold monthly meetings to monitor market conformity and compensation for any overproduced volumes recorded since early 2024. The next review is scheduled for May 3, 2026. (ANI)
2. Twitter
3. Whatsapp
4. Send Email
  
  ×
  Email this news
5. ← Go Back
- Twitter
- Whatsapp
- Send Email
  
  ×
  Email this news
- ← Go Back
More Business News
Top News VIEW ALL
[ VIEW ALL TOP NEWS ]
Personality / Interview
- Dr. Menaka Guruswamy makes history as India’s first Queer MP, takes oath in Rajya Sabha
[ CONTINUE READING ]
Blogs/Opinion VIEW ALL
- When corruption allegations go global amid elections, the law must stay grounded.....by KBS Sidhu
- 1. KBS Sidhu Former Special Chief Secretary Punjab
- Punjab at the Crossroads: Human Intelligence and Artificial Intelligence in Society and Politics...By Dr Pramod Kumar
- 1. Dr Pramod Kumar Director, Institute for Development and Communication (IDC), Chandigarh
- When loyalty becomes a luxury: The fall of Raghav Chadha....by KBS Sidhu
- 1. KBS Sidhu Former Special Chief Secretary Punjab
- Training IAS and Judicial Officers: From trenches and jails to courtrooms.....by KBS Sidhu
- 1. KBS Sidhu Former Special Chief Secretary Punjab
- Mera Khazana… I Was Also a TB Patient — Meeting Dr. Bhushan Brought Back Memories ... Baljit Balli
- 1. Baljit Balli Editor-in-Chief, Babushahi Network, Tirchhi Nazar Media, Chd, India
[ VIEW ALL OPINIONS ]
Polls
- Should there be CBI inquiry into the Suicide Case of DM Gagandeep Randhawa in Amritsar ?
- Posted on: 2026-03-23
- YES
  
  NO
- 1. SHOW RESULTS
  2. OLDER POLL RESULTS
- Poll Results
  
  Total Responses : 88
  
  YES : 78
  
  NO : 10
  
  Facebook
  
  Twitter
  
  Whatsapp
  
  Send Email
  
  ×
  Email this news
Do you Know ?
[ VIEW ALL ]
No of visitors Babushahi.com

6 0 8 6 4 2 9 5
Babushahi-Data Bank
- Tirchhi Nazar
- Baljit Balli
  
  Editor
- Mera Khazana… I Was Also a TB Patient — Meeting Dr. Bhushan Brought Back Memories ... Baljit Balli
- Read More
Special Edition
Books / Literature
- 2nd Anil Adam Memorial event spreads colours of sensitivity, creativity, respect and poetry
[ CONTINUE READING ]
From Social Media
- “I Couldn’t Log Off”: 20-yr-old woman takes Meta, YouTube to Court over alleged social media addiction
[ VIEW ALL SOCIAL MEDIA ]

© Copyright All Rights Reserved to Babushahi.com