JUST IN: Brent Crude Oil Prices Surge 6% as President Trump Vows to Hit Iran “Extremely Hard” Over Next 2-3 Weeks and “Bring Them Back to the Stone Ages”
JUST IN: Global oil markets reacted sharply to President Donald Trump’s prime-time address, with Brent crude jumping more than 6% intraday after the U.S. leader pledged intensified military strikes on Iran and declared the U.S. would “finish the job” in the coming weeks, heightening fears of prolonged disruption to energy supplies through the Strait of Hormuz.
By Reflecto News Staff
April 2, 2026
NEW YORK / LONDON – Brent crude futures surged approximately 6% (reaching around $107–108 per barrel in early trading) following President Trump’s national address, in which he vowed to strike Iran “extremely hard” over the next two to three weeks and “bring them back to the Stone Ages.”
The sharp rise erased some earlier losses and reflected investor concerns over extended conflict, continued restrictions on shipping in the Strait of Hormuz, and potential further damage to Iranian energy infrastructure.
Market Reaction to Trump’s Address
In his first prime-time speech since the launch of Operation Epic Fury, President Trump reiterated that core U.S. objectives are “nearing completion” but signaled a period of intensified action. Markets interpreted the aggressive rhetoric — including the phrase “Stone Ages” — as a sign that the war could drag on longer than hoped, delaying any quick reopening of the critical oil chokepoint.
- Brent Crude: Up ~6% on the day, trading near $107–108 per barrel after earlier volatility.
- WTI Crude: Also climbed sharply, crossing the $100 psychological level in some sessions.
- Broader context: Oil has already seen massive gains in March (over 60% in some reports), driven by the near-shutdown of Hormuz traffic and Iranian retaliatory actions.
Analysts noted that the speech introduced uncertainty: while Trump claimed progress, his commitment to heavy strikes in the short term outweighed any hints of an imminent end.
Why Oil Prices Are So Sensitive
The Strait of Hormuz normally handles about 20-21% of global oil and significant LNG volumes. Iran’s ongoing “toll booth” regime — requiring vessels to submit details to IRGC-linked intermediaries, pay fees (often in yuan or crypto), and sometimes reflag — has severely restricted commercial traffic since late February 2026.
Additional factors driving the surge:
- Fears of further U.S. strikes on Iranian energy sites or naval assets.
- Reduced Iranian oil exports and potential attacks on Gulf infrastructure.
- Limited spare capacity elsewhere to offset Persian Gulf disruptions.
- Recent U.S. military reinforcements, including the doubled A-10 Warthog fleet for maritime interdiction.
Trump’s Remarks in Context
During the address, Trump stated:
- “We are going to hit them extremely hard over the next two to three weeks.”
- “We’re going to bring them back to the Stone Ages, where they belong.”
- “We are going to finish the job — and we’re going to finish it very fast.”
He also referenced a Pentagon briefing on a high-risk plan to seize Iran’s highly enriched uranium stockpile using ground troops and cargo planes, though he did not confirm any decision.
Iranian Perspective
Iranian officials have responded defiantly to similar statements in recent days. Foreign Minister Abbas Araghchi warned that President Trump “must change his approach” and that “no one can set deadlines for us.” Tehran continues to deny serious ceasefire negotiations and insists that strikes and assassinations have not weakened its resolve.
President Masoud Pezeshkian has maintained outreach to ordinary Americans, stating Iran “harbors no enmity towards ordinary Americans,” while Supreme Leader Mojtaba Khamenei is reported in good health with a possible public appearance imminent.
International Diplomatic Efforts
The oil spike adds urgency to the UK-hosted virtual meeting of around 35 countries this week, chaired by Foreign Secretary Yvette Cooper. The gathering aims to find diplomatic and political ways to restore freedom of navigation in the Strait of Hormuz without direct military escalation.
Prime Minister Keir Starmer has stressed that the conflict is “not our war” and focused on multilateral solutions to ease pressure on global energy prices and the cost of living.
Broader Economic Impact
- Gasoline Prices: U.S. national average has climbed toward $4 per gallon in some reports, with further increases possible.
- Global Inflation: Higher energy costs risk feeding into broader price pressures worldwide.
- Stock Markets: Asian and European indices showed mixed or negative reactions, with energy stocks gaining while airlines and consumer sectors faced headwinds.
Looking Ahead
Whether the 2–3 week window of intensified action leads to a breakthrough, forced Iranian concessions, or further escalation will determine the next leg of oil prices. A successful UK diplomatic push or any signs of de-escalation could quickly reverse gains, while prolonged Hormuz restrictions or new strikes could push Brent toward or beyond $110–120.
The proposed ground operation to seize highly enriched uranium remains a high-risk wildcard that could dramatically alter the conflict’s trajectory.
Reflecto News will continue monitoring real-time oil market movements, any Iranian retaliation or statements, outcomes from the UK meeting, and further developments in Operation Epic Fury.
Related Coverage on Reflecto News:
- President Trump Vows to Hit Iran “Extremely Hard” and “Finish the Job”
- US Military Briefed Trump on Plan to Seize Iran’s Highly Enriched Uranium
- UK to Host Meeting of 35 Countries on Reopening Strait of Hormuz
- Iran’s “Toll Booth” Regime in the Strait of Hormuz
- Iranian Foreign Minister Araghchi Warns Trump: “Must Change His Approach”
- Iranian President Pezeshkian’s Letter to Americans: “No Enmity Towards Ordinary Americans”
This report is based on President Trump’s address, live market data, and reporting from major financial and international outlets.