Trump Warns Iran Over Nuclear Site Amid Ongoing Oil Price Surge
US President Donald Trump has warned Iran that any movement at its Pickaxe Mountain nuclear power site could lead to another attack by the US. In a speech in Dallas, Trump stated, 'I would advise Iran not to get cute because we will have to hit them very hard. We have no choice.' The warning comes as the UN's nuclear watchdog agency has asked the body to hold Iran accountable for failing to comply with safeguards meant to prevent the development of nuclear weapons.
The International Atomic Energy Agency (IAEA) voted 23-3 to report Tehran to the Security Council, with Russia, China, and Niger opposing the action. The move stems from a June 2025 resolution declaring Iran non-compliant with nuclear safeguards. Trump also stated that oil prices will not decrease until after the US midterm elections.
The US Energy Information Administration (EIA) forecasts that oil production in the Middle East will rise due to increasing flows through the Strait of Hormuz and alternative routes out of the region. However, some constraints on exporting oil from the Middle East are expected to persist until the second quarter of 2027.