Oil prices rose Tuesday, with WTI futures up 2.7% to $115.44 per barrel and Brent at $110.66.
President Trump set a deadline for Iran to reopen the Strait of Hormuz, threatening attacks on Iranian energy infrastructure.
Iran halted direct talks, warned of closing Bab‑el‑Mandeb and said the strait would stay shut for “empty promises.”
UN Security Council resolution urging Hormuz safety was vetoed by China and Russia; OPEC March output fell to a 40‑year low.