Featured Image Credit: Carlos Barria - Pool/Getty Images
Topics: Donald Trump, Iran, Israel, World News, Politics
Gregory Robinson
Topics: Donald Trump, Iran, Israel, World News, Politics
Donald Trump has issued a warning as the world waits to see the response to his latest move.
Over the weekend, the United States Air Force and Navy attacked three nuclear facilities in Iran amid the Iran-Israel war.
Trump labeled the move a 'very successful attack on the three nuclear sites in Iran, including Fordow, Natanz, and Isfahan' on Truth Social, while also claiming in his address to the nation that Iran's key nuclear enrichment facilities have been 'completely and totally obliterated'.
Iran's foreign minister Seyed Abbas Araghchi said the US' actions 'will have everlasting consequences', calling the country's actions 'extremely dangerous, lawless and criminal'.
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Government officials around the world are now awaiting Iran’s response to the attack and there are fears that the country could disrupt the oil trade. Investors are keeping a close eye on the Strait of Hormuz oil supply route.
Focus remains on whether Iran will limit or completely cut off access to this route, through which about one-fifth of the world’s oil supply travels.
Taking to Truth Social Monday (23 June), Trump urged: "EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!"
Current reports as of Monday suggest that US benchmark oil prices are just ‘marginally’ higher as investors have shifted to a ‘wait-and-see’ mode, according to NBC News.
However, the current oil price is the highest it has been since late January, although this is slightly below the overall average witnessed since 2023. With these levels, it equates to gasoline prices of around $3.30 a gallon, assuming oil prices remain at this level.
Wall Street analysts say the POTUS has once again instigated a wave of uncertainty into markets after introducing his tariffs earlier this year, however, many of the tariff hikes were paused.
Saxo Bank analyst Ole Hansen told Reuters: "All eyes remain on the Strait of Hormuz ... and whether Iran will seek to disrupt tanker traffic."
Some experts believe prices could increase in the short term, even without full-scale disruption. Hansen added that even the mere threat of interference could be enough to delay shipments through the Strait.
In a national address after the strikes, Trump told Americans: "Our objective was the destruction of Iran's nuclear enrichment capacity and a stop to the nuclear threat posed by the world's number one state sponsor of terror. Tonight, I can report to the world that the strikes were a spectacular military success.
"Iran's key nuclear enrichment facilities have been completely and totally obliterated. Iran, the bully of the Middle East, must now make peace - if they do not, future attacks will be far greater and a lot easier."