US President Donald Trump Warns Iran Hours Before His Ultimatum for Peace Deal Ends
Edited By WION Video Desk
Published: Apr 05, 2026, 22:15 IST | Updated: Apr 05, 2026, 22:15 IST
Tensions in the US‑Iran war and a looming 48‑hour ultimatum over the Strait of Hormuz are roiling global energy markets, driving oil and fuel prices sharply higher as traders price in continued supply disruption and geopolitical risk. The narrow strait handles about 20% of the world’s oil exports, and its effective closure has pushed crude above recent highs, impacting inflation, fuel costs, and economic activity across Asia, Europe, and the United States.
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