Oil prices surge after Trump threatens to “unleash hell” on Iran

Oil prices shook international markets again this Sunday following an escalation of tensions between the United States and Iran.

The trigger was a direct ultimatum from President Donald Trump, which raised the stakes of the conflict and immediately created uncertainty over the global oil supply.

According to the EFE agency, West Texas Intermediate crude surpassed $114 per barrel at the opening of futures markets, representing a 2.81% increase compared to Friday’s close.

This spike comes after a weekend marked by clashes between both nations.

Why it matters: Oil directly impacts the everyday economy. When its price rises, the costs of gasoline, transportation, food, and services increase, ultimately affecting the wallets of millions of people.

Rising tensions drive oil prices higher

The increase in crude prices is directly linked to the warning issued by Trump to Iran.

The president gave a deadline until Tuesday night for the Strait of Hormuz to be reopened, a key route for global energy transport.

If this does not happen, he warned of possible attacks on Iranian strategic infrastructure, including power plants and bridges.

He also left open the possibility of deploying ground troops, according to statements reported by outlets such as The Wall Street Journal and The Hill.

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This situation is compounded by rising military tensions after Iranian forces shot down a U.S. military aircraft and attacked other vessels over the weekend.

Oil Prices Surge Due to Iran Crisis – PHOTO: EFE

The Strait of Hormuz intensifies global supply risk

The Strait of Hormuz is one of the most sensitive points in global oil trade. A large portion of the world’s crude supply passes through this strategic route.

Iran, as one of the main producers within OPEC+, has control over this area.

In recent days, it has maintained restrictions through attacks on oil tankers, causing one of the largest disruptions in oil supply on record.

| President Trump said in a social media post filled with expletives that the United States will attack Iran’s power plants and bridges on Tuesday if the Strait of Hormuz is not reopened. pic.twitter.com/2zr6NCWFvW

— Alerta News 24 (@AlertaNews24) April 6, 2026

Although OPEC+ countries agreed to increase production by 206,000 barrels per day for May, according to CNBC, uncertainty remains. If the strait stays blocked, oil will not reach international markets normally.

Oil price increase pressures inflation and Latino households in the United States

The rise in oil prices is already having consequences on economic projections. The Organization for Economic Cooperation and Development (OECD) raised its inflation forecast for the United States in 2026.

Inflation is now expected to reach 4.2%, compared to the previously projected 2.8%, according to the OCDE report.

This increase is mainly driven by higher energy costs, outweighing the impact of other recent economic measures.

Oil Prices Surge Due to Iran Crisis – PHOTO: EFE

In practical terms, rising oil prices increase transportation and production costs. This ultimately translates into higher prices for goods and services, directly affecting consumers.

Higher diesel prices amplify the economic impact

Diesel has become one of the main concerns in this energy crisis.

In California, the price reached a historic record of $7.685 per gallon, according to AAA.

Infographic – Oil Prices Surge Due to Iran Crisis – NotebookLM – Source – AAA

This fuel is essential for multiple sectors, including transportation, agriculture, and industry. When its price rises, operating costs increase rapidly.

Truck drivers, for example, face higher expenses that are often passed on through their rates. This creates a chain reaction throughout the economy, making basic goods and services more expensive.

As a result, the impact of diesel is not limited to drivers but affects the entire supply chain.

What to do to save amid rising fuel prices?

In this context, some consumers are looking for ways to reduce the impact of higher fuel costs through savings strategies.

Clubs such as Costco, Sam’s Club, and BJ’s Wholesale Club operate under a membership model that allows access to cheaper gasoline, as well as discounts on frequently purchased goods.

Additionally, some credit cards offer cashback on gas or grocery purchases. However, these benefits are often subject to specific conditions and limits that must be evaluated.

These types of alternatives are more useful for those who make frequent purchases or consume large amounts of fuel.

What’s next

The behavior of oil prices in the coming days will depend on how the conflict between the United States and Iran evolves.

If the Strait of Hormuz remains blocked or if military tensions escalate, prices could continue to rise.

On the other hand, any progress toward an agreement or the reopening of the maritime route could lead to market stabilization.

For now, the scenario remains marked by uncertainty, with effects already beginning to move from international markets into the everyday economy of consumers.