Oil prices have risen after the United States and Iran threatened fresh attacks on energy facilities in the Middle East, including power plants. The International Energy Agency (IEA) also stated that the reduction of global oil supply from the Strait of Hormuz closure was larger than the losses caused by the 1970s oil shocks. Brent crude gained 1% to trade at $113 a barrel and WTI rose 0.8% to $99 a barrel. US President Donald Trump had threatened to "obliterate" Iran's power plants if Tehran did not reopen the strait. Iran's Islamic Revolutionary Guard Corps said it would respond in kind to any attacks on its power plants and keep the Strait Hormiz closed indefinitely. At least 44 energy assets in the region have been severely or severely damaged across nine countries, according to IEA executive director Fatih Birol. The agency is also consulting with governments around the world on releasing more oil if necessary.