Trump Vows No Nuclear Deal with Iran: 'I Will Never Allow It'
US President Donald Trump has reaffirmed his commitment to preventing Iran from obtaining nuclear weapons. Speaking at the 81st United Nations General Assembly in New York, Trump warned that if a peace deal is not reached with Tehran, he could take further military action against the Islamic Republic.
'From the first day I entered the political arena, I've been unwavering; I will never allow Iran to have a nuclear weapon,' Trump said during his speech. He called on other countries to join the United States in imposing 'complete economic isolation' on Iran until Tehran stops attacks on commercial shipping, gives up its nuclear ambitions and ends its support for militant groups.
Trump's comments had an immediate bearing on expectations in the oil market because traders had been watching the UN gathering for signs of progress towards an agreement that could ease disruptions to oil supplies from the Middle East. Reuters reported that oil prices pared earlier losses after Trump's speech, as his comments reduced hopes that a US-Iran agreement could be reached during the UN General Assembly.
Brent crude futures for November delivery settled at $99.25 a barrel, down $1.09, or 1.09 per cent, while US crude prices also moved lower. Trump later said US and Iranian representatives had continued talking and that he believed a settlement would eventually be reached.