US crude crosses $117 per barrel as Trump's Iran deadline nears end

US benchmark West Texas Intermediate (WTI) crude jumped 4.5% to cross $117 per barrel on Tuesday as US President Donald Trump's deadline for Iran to open the Strait of Hormuz nears its end. Brent crude also jumped 1.5% to cross $111 per barrel. The surge in prices comes after Trump threatened Iran, saying, "A whole civilisation will die tonight."