Oil prices jumped and stocks fell on Monday as President Trump issued a new warning to Iran, calling into question the tenuous cease-fire between Washington and Tehran.
A peace deal has remained elusive, as has the reopening of the Strait of Hormuz, a vital passageway in the Persian Gulf for shipments of a significant portion of the world’s oil and gas.
On Sunday, President Trump posted a new threat on social media. “For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them,” he wrote. “TIME IS OF THE ESSENCE!”
