Oil back above $110 after Trump threatens Iran over Strait of Hormuz

Oil moved back above $110 a barrel after President Trump escalated his threat against Iran over the Strait of Hormuz, in a move that added fresh tension to already volatile energy markets.

Axios reported on Sunday that Brent crude climbed above $110 as trading opened, following Trump's latest warning that Iran could face strikes if the strait is not reopened. AP had earlier reported that Trump threatened to hit Iran's power plants and bridges and said the country would be living in hell if the route remained closed.

The Strait of Hormuz is one of the world's most important oil shipping lanes, so any threat to traffic there tends to feed quickly into crude prices. That was the backdrop for the latest market reaction.

The White House has also published material reinforcing the administration's hard line on Iran and the broader operation context, keeping the geopolitical risk in focus.

The latest reports do not show a contradiction in the underlying market move, but traders will now be watching whether oil can hold above that level as the situation develops.

The spike adds another layer of pressure to an already tense energy market and shows how quickly geopolitical escalation can flow through to prices.