Oil Whipsaws on Trump’s Hormuz Ultimatum as Goldman Warns of 2008-Level Prices
Oil prices fluctuated violently on Monday as markets digested President Trump’s weekend ultimatum threatening to “obliterate” Iran’s power plants if Tehran fails to fully reopen the Strait of Hormuz within 48 hours. Brent crude traded above $113 per barrel, reversing initial losses as the deadline approached without any indication that Iran would comply. Iran’s parliament…