Trump Threatens 'Total Wipeout' for Iran as Oil Prices Soar

US President Donald Trump has made another aggressive statement towards Iran, saying that if they retaliate against US attacks, 'they'll be hit much harder' and 'totally wiped out as a country'. The comments came during a call to Fox News. He also stated that an agreement with Iran is not worth the paper it's written on.

Trump's statement follows recent missile strikes by the US against Iranian military targets, which have pushed crude oil prices to their highest level since July 26 at $90.50 per barrel. This represents a significant increase of $4.75 from previous levels.

The market reaction has been negative, with major indices such as the Dow and S&P falling by around 0.8-1.2%. The 10-year US Treasury yield has also risen to 4.794%, a 2.6% point increase.