Oil prices rise as Trump threatens Iran with 'serious consequences'
Oil prices climbed on Tuesday after President Trump warned Iran it would face "serious consequences" if it fails to reach an agreement on its nuclear program.
This pushed May Brent crude up 0.76% to $71.65 a barrel, and April WTI up 0.81% to $66.85.
In India, crude hit ₹6097 per barrel.
Impact on fuel prices
Rising oil prices can mean pricier fuel and higher costs for everyone—something you'll feel at the pump or in your food delivery bill.
The jump comes as Trump set a tight deadline for Iran to halt uranium enrichment and sent US warships to the Mediterranean, raising fears of conflict and more market swings.
US wants Iran to stop enriching uranium
The US wants Iran to completely stop enriching uranium, but Iran's sticking with its nuclear plans for now.
With both sides holding firm, there are concerns about possible military action and potential market effects if talks break down this week in Geneva.