Trump threatens to destroy Iranian oil facilities, international oil prices surge in response.

Sina Finance reported on March 31st that on March 30th, due to expectations of escalating conflicts in the Middle East, international oil prices rose significantly. By the end of the day, the price of light crude oil futures for May delivery on the New York Mercantile Exchange rose by $3.24 to $102.88 per barrel, an increase of 3.25%; while the price of Brent crude oil futures for May delivery in London rose by 21 cents to $112.78 per barrel, an increase of 0.19%. On the same day, US President Trump stated that if Iran does not quickly accept a peace agreement and reopen the Strait of Hormuz, the US will destroy Iran's oil hub on Khark Island, as well as oil wells and power facilities. Trump also revealed that the US and Iran are currently engaged in "serious negotiations," but warned that if the negotiations fail, military strikes will be launched on Iran's infrastructure. Market concerns are growing that if the situation deteriorates further, energy supplies will be further impacted.