Oil Hits $90 as Trump Iran Threats Trigger Market Sell-Off

Global financial markets faced fresh turbulence Monday as President Donald Trump doubled down on threats to escalate military action in Iran, amplifying concerns over an already strained energy complex. Oil prices spiked, with Brent crude climbing above $90 a barrel, while major equity indexes in Europe and Asia retreated. US stock futures pointed to a lower open. "We are looking at a significant escalation," Trump stated, reiterating his willingness to use force if Iran advances its nuclear program. The comments rattled investors already grappling with sticky inflation and slowing global growth, as higher energy costs threaten to fuel price pressures and curb consumer spending. Bond yields fell as traders priced in a more cautious Federal Reserve, while the US dollar strengthened. "The risk is that this injects a new layer of geopolitical risk premium into an already tight oil market," noted one market strategist. The situation remains fluid, with Tehran signaling a willingness to engage in indirect talks but also vowing retaliation for any attack.