Trump escalates threat against Iran, international oil prices rise for three consecutive days, breaking a four-month high.

International oil prices have risen for three consecutive days, as US President Trump warned Iran to either sign the nuclear agreement or face military strikes, exacerbating concerns about possible turmoil in the Middle East and disruption of oil supplies. Data shows that WTI crude oil, after rising 1.3% the previous trading day to its highest level since late September, continued to climb to $64 per barrel, while Brent crude hovered around $68. Trump tweeted on social media on Wednesday that US warships in the region are prepared and will "swiftly and forcefully" carry out their missions when necessary. Although the market is facing downward pressure from increased supply, Trump's latest deterrence has injected risk premium into oil prices. Traders continue to buy call options as a hedge against the risk of a new conflict between the US and Iran, marking a new high in bullish sentiment lasting approximately 14 months. In recent years, the options market has been an important channel for traders to bet on escalating geopolitical risks in the Middle East. After the US launched a military strike against Iran in 2025, call option premiums soared, but quickly fell sharply after confirming that Iran's oil facilities were unaffected. The Middle East region accounts for about one-third of global oil supply, and if the US launches strikes, oil transportation in the region will face serious risks. Iran's retaliatory measures could further disrupt shipping in the Strait of Hormuz, a narrow waterway separating Iran from the Arabian Peninsula and a vital route for oil tankers and LNG transport ships to reach global destinations. Trump has previously issued warnings to Iran several times, with recent statements more related to the Iranian government's use of force to suppress protests rather than its nuclear activities. The US president has previously claimed that the military strikes in June against three Iranian facilities completely destroyed Iran's nuclear program. In response, Iran has stated that it is ready to engage in dialogue but has also warned that it will launch an unprecedented strong counterattack if provoked. To prevent further conflicts with the US, Iran is strengthening its diplomatic interactions with major countries in the Middle East.