Trump Threatens Iran Over Oil Shipments as Conflict Escalates
US President Donald Trump has threatened to escalate military action against Iran if it attempts to block oil shipments through the Strait of Hormuz. Speaking at a news conference, Trump stated that American forces have already inflicted significant damage on Iran's air force and navy.
The US president also predicted that the conflict could end sooner than expected, potentially within the initial four-week timeframe he had outlined. However, Iran's Revolutionary Guards responded swiftly, warning that they would not allow any oil to leave the region if US and Israeli strikes continue.
A Guards spokesperson stated that it is Iran, not Washington, that will determine when the war ends. The tense exchanges between Trump and the Iranian regime have fueled market volatility, with Brent crude futures spiking nearly 29% during the session, reaching a high of $120 a barrel before pulling back.
Trump also announced that he spoke directly with Russian President Vladimir Putin, stating that Washington will waive some oil-related sanctions on select countries to ease the supply crunch. Other measures under discussion include additional releases from US strategic reserves and possible curbs on American crude exports.