# Oil Spikes, Stocks Tumble After Trump Delivers Fiery Speech on Iran War - Business Insider

> Oil and stock markets fell sharply on Thursday after Trump's primetime speech on the Iran war revived fears of a prolonged conflict. Brent rose more than 8% to about $109 a barrel, and May WTI jumped more than 10% to about $110. The Strait of Hormuz, which carries about 20% of world oil and LNG, is effectively closed.

- Date: 2026-04-02 · published 2026-04-02T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/12924-oil-spikes-stocks-tumble-after-trump-delivers-fiery-speech-on-iran-war-business
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The closure of Hormuz, a major route for crude and LNG, pushes up energy and input costs for livestock and feed producers. Higher energy prices also tend to lift vegetable oil and biofuel-linked demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-02 | [Near-term oil prices hit record premium over later deliveries after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12725-near-term-oil-prices-hit-record-premium-over-later-deliveries-after-trump-vows.md) | -2.8% | +8.2% |
| BRENT | 2026-01-13 | [Oil rallies after Trump tells Iran protesters help is on the way](https://feedsoft.ai/events/11392-oil-rallies-after-trump-tells-iran-protesters-help-is-on-the-way.md) | +1.4% | +8.5% |
| BRENT | 2018-03-09 | [US strikes three Iranian oil tankers after Iran targets US warships](https://feedsoft.ai/events/66178-us-strikes-three-iranian-oil-tankers-after-iran-targets-us-warships.md) | +1.0% | +4.8% |
| BRENT | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.8% | +8.2% |
| BRENT | 2018-06-26 | [Oil surges after State Dept orders buyers to cut Iranian imports](https://feedsoft.ai/events/8781-oil-surges-after-state-dept-orders-buyers-to-cut-iranian-imports.md) | +4.4% | -0.7% |
| WTI | 2026-04-02 | [Near-term oil prices hit record premium over later deliveries after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12725-near-term-oil-prices-hit-record-premium-over-later-deliveries-after-trump-vows.md) | -2.2% | +6.1% |
| WTI | 2026-01-13 | [Oil rallies after Trump tells Iran protesters help is on the way](https://feedsoft.ai/events/11392-oil-rallies-after-trump-tells-iran-protesters-help-is-on-the-way.md) | +1.5% | +7.9% |
| WTI | 2018-03-09 | [US strikes three Iranian oil tankers after Iran targets US warships](https://feedsoft.ai/events/66178-us-strikes-three-iranian-oil-tankers-after-iran-targets-us-warships.md) | +1.7% | +3.2% |

## Sources

- businessinsider.com: https://www.businessinsider.com/oil-surges-after-trump-triumphant-speech-on-iran-2026-4

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.