Crude oil prices extended gains to a four-month high as President Donald Trump intensified threats against Iran. The warning cited potential military action if Tehran does not return to nuclear negotiations. Markets reacted swiftly to the geopolitical tension, pushing Brent crude above $75 per barrel.

The escalation revives supply concerns from the Strait of Hormuz, a chokepoint for nearly 20% of global oil shipments. Previous tensions in 2019 saw attacks on tankers and drone strikes disrupting exports. Traders are pricing in risk premiums as inventories remain tight amid OPEC+ production limits.

Energy analysts expect volatility to persist until diplomatic pathways clarify. Sanctions relief or renewed conflict could dramatically shift price trajectories. Market watchers are monitoring Iranian response and any U.S. military positioning in the region closely for further signals.