Trump Issues Ultimatum to Iran as Dow Futures Rise Amid Ongoing Tensions
US President Donald Trump has issued a warning to Iran, stating that if no deal is reached, he will consider wiping out the country or allowing it to 'rot economically'. This statement comes as US stock futures rose, while crude oil prices fell. The Dow Jones Industrial Average futures increased by 0.23% to 52,199, and the S&P 500 futures gained 0.34% to 7,738.50.
Crude oil prices declined, with WTI crude falling 1.61% to $98.69 per barrel, and Brent crude declining 1.43% to $102.38 per barrel. The Iranian military has threatened sustained retaliation against US bases and regional allies if attacked.
The situation escalated over the weekend after Yemen's Iran-backed Houthi group claimed missile attacks on sensitive targets in Riyadh. The Trump administration has permitted a 'core delegation' of Iranian officials, including President Masoud Pezeshkian and Foreign Minister Abbas Araghchi, to attend the United Nations General Assembly.
However, diplomatic efforts have been hindered by Iran's continued restriction of shipping through the Strait of Hormuz. Tehran has reiterated that it will not reopen the strait until conditions tied to a June ceasefire agreement are met.