Trump's new message on Iran war and 'very easy' oil
Trump's 'retribution' vs Iran Live Events Oil shrugs off Trump's optimism Gulf on the boil again as a Reliable and Trusted News Source Addas a
Trump's 'retribution' vs Iran Live Events Oil shrugs off Trump's optimism Gulf on the boil again as a Reliable and Trusted News Source Addas a Reliable and Trusted News Source Add Now! (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel US President Donald Trump on Thursday said he did not expect the conflict with Iran to restart, but warned that if Tehran launched fresh attacks, Washington would retaliate "ten times harder" and any renewed fighting would end "very quickly.""I don't think its going to start again," Trump said. "If they hit, we hit ten times harder. Anything that happens will get over very quickly, and we'll make things safer, even for oil. Oil is going to be very free, very easy."The remarks marked a notable shift in tone after Trump earlier defended fresh U.S. military strikes on Iran as retaliation for what Washington said were attacks on commercial ships in the Strait of Hormuz and suggested that the temporary understanding between the two countries had effectively collapsed."This is in retribution for yesterday's bombing of ships by Iran. If it happens again, it will get much worse!" Trump wrote in a post on Truth Social.The United States launched a fresh wave of military strikes against Iran on Thursday, in what marked another sharp escalation in the West Asian conflict.According to the U.S. military, the strikes were intended to degrade Iran's ability to threaten commercial shipping through the Strait of Hormuz after three cargo vessels were attacked while transiting the strategic waterway on Tuesday.
Washington blamed Tehran for the incident, saying the operation was necessary to safeguard one of the world's busiest energy shipping routes.The U.S. Central Command said the operations were aimed at preserving freedom of navigation and ensuring the security of civilian shipping and international trade through the narrow passage, which carries nearly one-fifth of global oil supplies. Iran has not publicly acknowledged involvement in the attacks on the merchant vessels.Despite Trump's assertion that the conflict would make conditions "safer, even for oil", crude prices extended gains for a third consecutive session on Thursday as fresh U.S. strikes on Iran weakened hopes of a near-term resolution to the conflict and prolonged uncertainty over the reopening of the Strait of Hormuz.Brent crude futures rose 78 cents, or about 1%, to $78.80 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 74 cents, or just over 1%, to $74.26 a barrel. Both benchmarks had already climbed to their highest levels in more than two weeks in the previous session after Trump warned of additional military action against Iran.The latest gains reflected investor concerns that renewed hostilities could keep one of the world's most important oil chokepoints under pressure. The Strait of Hormuz normally carries around one-fifth of global oil supplies, and any prolonged disruption to shipping through the route could tighten crude supplies and push up freight costs.The U.S. military has said the latest strikes were intended to protect commercial navigation through the strait following attacks on three tankers earlier this week.
The BriefWire