Trump Threatens Iran's Power Infrastructure as Oil Surges Past $100

Trump escalated the war by threatening to target Iranian bridges and power plants.

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Axios

The Council on Foreign Relations noted this was a shift to pursuing regime change.

BNN Bloomberg

Dozens of international law experts warned such strikes may amount to war crimes.

The threat to civilian infrastructure set the stage for further energy supply disruptions.

Oil prices surged above $100 per barrel after the US-Israel war closed the Strait of Hormuz.

Axios reported Brent crude at $101.81 and WTI at $101.56.

CNBC

CNBC documented WTI rising 11% to $111.54.

Goldman Sachs warned prices could surpass $100 for an extended period.

Markets reacted with increased volatility.

“Oil prices surged Thursday as investors fear a prolonged war in the Middle East that will block tanker traffic through the Strait of Hormuz for weeks”

CNBC

S&P 500 futures tumbled 1.5% before the opening bell.

BNN Bloomberg noted the S&P 500 posted a 3.1% gain for the week.

The energy shock was being felt across the economy.

Trump asserted the US imports almost no oil through the Strait of Hormuz.

MS NOW fact-checked this claim noting the US consumes about 20 million barrels per day.

DW

Gulf flows remain critical for global markets.

WTHI-TV highlighted the contradiction between Trump's claim and reality.