Crude Oil Prices Surge to Two-Month High Amidst Trump's Iran Tariff Threat

• Crude oil prices surged, with Brent futures reaching $64.15 and WTI hitting $59.78, a two-month high.
• The surge followed Trump's announcement of a 25% tariff on countries trading with Iran, effective immediately.
• Lack of clear details on Trump's order led to low initial volatility, but risks reigniting trade war with China.
• Potential disruption to Iran's exports (2% of global demand) eases global oil surplus concerns.
• Supplies from Kazakhstan are also halted due to bad weather, maintenance, and Russian infrastructure damage.

Why It Matters: Trump's Iran tariff threat and supply disruptions push crude oil prices to a two-month high.