Global Markets Tiptoe on Brink as Trump Sets Deadline for Iran Deal

As the clock ticks down on President Donald Trump’s threat to unilaterally withdraw from the Iran nuclear deal, oil markets are bracing for volatility ahead of a potential deadline. The US president has issued an ultimatum, stating that if Iran refuses to comply with demands to access the Strait of Hormuz, Washington will take military action in “one night”. The oil price has already begun to feel the effects, with Brent crude futures experiencing their largest single-day gain in over a month as traders priced in a potential escalation. The jump was largely driven by concerns about a possible conflict between the US and Iran. Analysts say that even if Washington does not follow through on its threat, the standoff could still have significant implications for global oil supplies. “The Strait of Hormuz is one of the most critical waterways in the world,” said energy expert, Fatih Kose, at the Citi Research department. “Any disruption to it would send shockwaves throughout the global economy.” The Iranian government has rejected Trump’s demands, calling them an “attack on Iran’s sovereignty”. The country’s oil minister, Bijan Zanganeh, warned that any attempt by the US to blockade the Strait of Hormuz would be met with force. While there are no immediate signs that a military conflict is imminent, many traders and analysts believe that the situation remains volatile. As one trader noted, “This is a high-stakes game, and anyone who bets on the other side could lose big.”