US President Donald Trump has spent the past 24 hours intensely monitoring the situation following overnight strikes by US forces on Iran’s nuclear facilities, according to several senior administration officials. On Monday, he issued a series of warning messages on oil prices and confirmed plans to attend the NATO summit in The Hague.
“ATTENTION ALL: KEEP OIL PRICES LOW. I’M WATCHING YOU! DON’T PLAY WITH THE ENEMY!”
– Trump said on Truth Social, repeating his slogan “Drill, Baby, Drill” and calling on the US Department of Energy to step up drilling.
Anxious trip monitoring and planning
According to CNN’s sources, Trump has been holding regular briefings with intelligence, Pentagon and security advisers, monitoring the situation and analysing the possible consequences for global energy markets. Despite the tensions, the president confirmed his intention to travel to the Netherlands on Tuesday for a NATO meeting, although sources did not rule out the possibility of adjustments in the event of new surprises.
Deterring Iran and the threat of the Strait of Hormuz
White House press secretary Caroline Leavitt also warned Tehran not to blockade the Strait of Hormuz, a strategic artery through which more than 20 per cent of the world’s oil supplies pass. The day before, the Iranian parliament passed a resolution demanding the closure of the strait in response to the US strikes.
The market reacts to geopolitics
Asian and European stock exchanges opened on Monday with a marked rise in Brent and WTI prices. Experts attribute this to fears of supply disruptions that could arise from the escalation in the Persian Gulf.
