Price of oil hits $116 a barrel after Trump says he wants to ‘take the oil in Iran’

Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict Business live – latest news The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “ take the oil in Iran ”, sending Asian stock markets tumbling. Brent crude, the international benchmark for oil, rose by 2% in early trading…

Key takeaways

Quick scan — what you need to know:

• Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict Business live – latest news The price of oil has risen sharply to $116 a barrel after Donald Trump…
• Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island .
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• Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island.

Background

What led here, in plain terms:

• Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island.
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Why it matters

Why readers and decision-makers should care:

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• Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict Business live – latest news The price of oil has risen sharply to $116 a barrel after Donald Trump…
• Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island.