Crude oil climbs near $87 as Trump threatens further Iran strikes

Crude oil futures climbed nearly 2% toward $87 a barrel on Tuesday as renewed US-Iran hostilities heightened concerns over regional supply disruptions. US forces targeted Iranian rocket launchers on Larak Island, while Tehran responded with attacks on targets in the UAE and Jordan. US President Donald Trump also threatened further action against Kharg Island, a key Iranian oil export hub. Despite the escalation, oil shipments continue to move through the Strait of Hormuz, with major Gulf producers maintaining some exports. Brent futures rose 1.3% to $91.79, while WTI gained 1.55% to $87.10. MCX September crude futures climbed 1.31% to ₹8,256 per barrel.

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