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WTI crude oil futures rose 2.3% to $105.21 per barrel on Tuesday, hitting a new high for 2022 after closing on Monday. Prior to this, Trump posted on social media that if Iran did not reopen the Strait of Hormuz, the United States would destroy its power plants, oil facilities, and "possibly" destroy desalination infrastructure. Despite Trump's repeated statements about reaching an agreement with Iran, with the Middle East conflict entering its fifth week, the US has deployed more troops to the region. "In terms of looking for a way out, the tone is still one step forward, five steps back," said Rebecca Babin, a senior energy trader at the private wealth group of the Canadian Imperial Bank of Commerce. "In fact, there is still a shortage of 10 to 12 million barrels per day in the market, the buffer supply is disappearing, and the efforts to lower oil prices are becoming increasingly weak."