Trump Admits Control Over Iranian Oil as Global Energy Market Braces for Shock

US President Donald Trump made headlines during his visit to Ireland by admitting that the US could maintain control over Iran's oil resources. This statement comes amidst turmoil in the global energy market, particularly following a drone attack on Saudi Arabia's strategic 'East-West' oil pipeline.

The pipeline transports approximately 4 million barrels of oil per day to the Red Sea port of Yanbu, accounting for around 4% of the world's oil supply. If it remains shut down, Saudi exports could be severely limited, and global markets are bracing for a potential shortage. Trump has already linked Iran to the attack on the pipeline.

The US president also hinted at the possibility of controlling Iranian energy resources in a manner similar to agreements related to Venezuelan oil. He suggested that oil revenues from such an operation could help offset costs associated with a military presence in the country.