Crude oil price on 06 April 2026: Due to the increasing threats from US President Donald Trump, crude oil prices are also continuously rising. This is affecting the pockets of the common people.

Crude oil prices are seeing a sharp rise today, Monday, April 6, 2026, the first trading day of the week. Crude oil prices have now surpassed $112 per barrel, reaching $115 this morning. Brent prices are also hovering around $110 per barrel. This surge in crude oil prices comes after US President Donald Trump issued a new threat, giving Iran until 8:00 pm Tuesday.

US President Trump's new warning

1. US President Trump's warnings have caused crude oil prices to rise.
2. The deadline Trump gave Iran to open the Strait of Hormuz was due to expire on April 6, but it has now been extended by another 24 hours.
3. Iran has now been given until 8:00 PM Tuesday.
4. The new threat also states that no new extensions or other proposals will be granted.
5. Trump says that if Iran does not comply, its power plants and infrastructure will be directly targeted.
6. Iran has also made it clear that it is preparing to take similar action if its infrastructure and facilities are attacked.
7. This Middle East conflict has been ongoing since February 28th, causing the price of crude oil to nearly double.
8. The longer this tension drags on, the more the price of crude oil increases.

The impact of rising crude oil prices

1. An HSBC report has already warned that if crude oil prices remain above $100 for a prolonged period, the situation could become more serious in the future.
2. The report also warned that if this situation persists for a long time, the inflation rate could rise above 6%.
3. If the inflation rate rises above 6%, it will have a direct impact on the common man's pocket.
4. Everything from food and beverages to everyday items like electricity, transport, etc. will become more expensive.
5. Petrol and diesel are used for various purposes, from agriculture to transportation, factories, and power generation.

India imports a large portion of its crude oil needs. Consequently, rising crude oil prices are increasing economic pressure on India, as it will have to pay more for it. Prolonged Middle East tensions mean higher crude oil prices, which in turn means higher prices for the general public. Therefore, many countries around the world want this war to end soon so that the situation can still be managed.