Investors nervous over escalation of Middle East conflict as US president says he wants to ‘take the oil in Iran’Business live – latest newsThe price of oil hit nearly $117 (£89) a barrel on Monday as Donald Trump threatened to “blow up” and “completely obliterate” Iranian electricity plants, oil wells and its export hub Kharg Island if it did not agree to a deal.Brent crude rose after Trump wrote on his social media platform Truth Social that if a deal was not agreed and the strait of Hormuz was not reopened, the US would take further action. Continue reading... ...read more read less