Crude oil futures traded higher on Tuesday morning as US President Donald Trump threatened to intensify attacks on Iran if it did not make a deal with the US, by 8 pm EDT Tuesday, to open the Strait of Hormuz.
At 9.59 am on Tuesday, June Brent oil futures were at $111.56, up by 1.63 per cent, and May crude oil futures on WTI (West Texas Intermediate) were at $116.15, up by 3.33 per cent. April crude oil futures were trading at ₹10864 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹10588, up by 2.61 per cent, and May futures were trading at ₹9461 against the previous close of ₹9315, up by 1.57 per cent.
Addressing a press conference, Trump said Iran could be ‘taken out’ in one night and that night might be Tuesday night. Every power plants and bridges in Iran will be destroyed, he said.
America’s armed forces have carried out more than 10,000 combat flights over Iran in the past 37 days, striking more than 13,000 targets, he said.
Stating that regime change in Iran resulted in a more moderate government, Trump said he had given opportunities to Iran to end the war but they have not been accepted.
Meanwhile, Iran cautioned that it would retaliate if US attacks infrastructure in Iran, and threatened to attack energy infrastructure in the Gulf region. Rejecting a temporary ceasefire proposed by mediators, Iran sought a permanent end to the hostilities and urged the need to lift sanctions on it.
April natural gas futures were trading at ₹263.90 on MCX during the initial hour of trading on Tuesday against the previous close of ₹265.80, down by 0.71 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), April dhaniya contracts were trading at ₹13270 in the initial hour of trading on Tuesday against the previous close of ₹13410, down by 1.04 per cent.
April turmeric (farmer polished) futures were trading at ₹16144 on NCDEX in the initial hour of trading on Tuesday against the previous close of ₹16246, down by 0.63 per cent.
Published on April 7, 2026