Oil prices rose sharply on Monday after Trump warned Iran could be taken out and Iran rejected a cease‑fire proposal.
Brent June futures climbed 1.2% to $110.42/barrel, hitting $111.68 intraday, while WTI rose 1.4% to $113.07/barrel.
OPEC+ announced eight members will increase output by 206,000 bpd in May, though market impact remains uncertain.
The price surge revived inflation worries, as higher energy costs could pressure transport, manufacturing and consumer sectors globally.