Brent jumps 5% after Trump vows to hit Iran 'extremely hard'

Oil markets rattled investors as Brent futures climbed roughly 4.7% in a volatile session, touching levels near $118 on a wave of tanker attacks and fresh U.S. warnings about stepped‑up strikes.

The move followed a series of incidents in the Gulf and statements from Washington that reinforced the prospect of intensified operations against Iranian targets; outlets reported President Trump saying U.S. forces would hit Iran “extremely hard” and that operations could intensify over the next two to three weeks. At the same time, subsequent comments that the U.S. could wind down its involvement within weeks added contradictory signals to markets.

Traders rapidly re‑priced risk: Brent recorded intraday swings near 5% as headlines alternately pushed prices up on supply‑risk concerns and down on emerging ceasefire or drawdown signals. Major equity benchmarks and safe‑haven assets reacted in parallel, with shifts reflecting investors’ demand for liquidity and hedge protection.

The broader context — continued disruptions to flows through the Strait of Hormuz and sharp OPEC production declines in March — has left the energy complex more sensitive to geopolitical headlines. Market data compilations show substantial drops in regional output and a larger structural risk premium in oil forward curves.

Strategists say volatility is likely to remain elevated until there is clearer confirmation on the operational timeline and the status of key export routes. In the near term, participants expect headline‑driven price gaps and recommend active risk management for exposures to Brent and WTI; should supply constraints persist, elevated energy prices could feed through into broader inflation readings.