Oil prices extended their multi-day advance on Thursday as President Donald Trump announced a stepped-up campaign of economic pressure on Iran, describing the initiative as “Economic Warfare and Isolation on an unprecedented scale” and labeling it an “Economic D-Day.” Brent crude futures traded near $93–$94 a barrel while West Texas Intermediate climbed above $87, marking continued gains after earlier weekly advances of more than 5%.
In a social-media post, Trump warned that any country permitting its financial institutions, businesses, airports, or government entities to provide a lifeline to Iran would face “tremendous economic consequences.” He also called for an end to smuggling networks, cash transfers, exchange houses, and ship registries linked to Tehran. The rhetoric follows weeks of tension over the Strait of Hormuz, a critical chokepoint for global energy shipments where visible vessel traffic has remained well below normal levels.
Market participants noted that the shift toward intensified economic measures, rather than immediate military escalation, still carries supply-risk implications. Analysts at major banks have previously estimated that prolonged disruption could add several dollars per barrel to prices, with some scenarios pointing toward triple-digit Brent if constraints persist for months.
The oil move added to broader market pressure alongside rebounding Treasury yields and mixed corporate results. Energy equities saw selective support, while higher fuel costs fed into concerns about consumer spending already visible in the Walmart report. For traders, the combination of geopolitical headlines and technical strength in crude keeps energy volatility elevated and supports tactical long positions in oil-sensitive names while monitoring any diplomatic openings.