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Oil prices fall as Trump threatens Iran with ‘fire and fury’ over Strait of Hormuz

Trump warns of ‘death, fire, and fury’ if Iran disrupts global oil passageway

Late on Monday, US President Trump issued another warning to Iran about disrupting shipping in the Strait of Hormuz.

“If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far,” Trump said in a post on his social media platform Truth Social.

About 20% of the world’s oil passes through the strait and the war has severely reduced sea traffic and sent global oil prices soaring.

“Additionally, we will take out easily destroyable targets that will make it virtually impossible for Iran to ever be built back, as a Nation, again — Death, Fire, and Fury will reign upon them — But I hope, and pray, that it does not happen!” he said.

What Trump said about Iran 

From interviewing with several news outlets to speaking at a Republican conference to delivering a formal press briefing, Trump made several comments Monday about the US war with Iran.

Here is a timeline of Trump’s remarks throughout yesterday:

  • He told CBS News “I think the war is very complete, pretty much”, and said the US was “very far ahead of schedule”
  • Speaking to NBC, he left open the prospect of acquiring Iranian oil, saying “certainly people have talked about it”
  • In an interview with the New York Post, he said the administration was “nowhere near” making a decision on whether to order US troops into Iran
  • Speaking to Republican lawmakers, Trump said the US was drawn into a “short-term” military operation in Iran to “get rid of some very evil people”
  • He went on to say: “We’ve already won in many ways, but we haven’t won enough”
  • Trump told the New York Post he is “not happy” with Iran’s new supreme leader, Mojtaba Khamenei, but at his press briefing later did not make clear who he wants to take his place – or how that will be achieved
  • At his press briefing, Trump reiterated that the operation in Iran has been a “tremendous success”, but also added that he wants to ensure Iran cannot develop nuclear weaponry “for a very long time” – a much bigger task
  • The US still has targets in Iran, Trump told reporters, but they could be taken out “in one day”
  • Still, he said the war will be over “very soon”
Trump says deadly school strike still under investigationpublished at

On Monday Trump was asked if the US will accept any responsibility for a strike which hit a primary school near a military base in Minab, killing 168 people, 110 of whom were children.

The president responded by saying that Tomahawk missiles, which are made in America and are the type that appears to have been used in the strike, are used by several countries, including Iran.

Later, it was put to Trump that he is the only person in the administration seemingly suggesting that another country could have acquired a US-produced missile and struck the school.

Neither Israel nor Iran are known to possess Tomahawks, experts previously told the BBC.

“I just don’t know enough about it,” Trump said, adding again that the deadly strike is under investigation.He added: “Whatever that report shows, I’m willing to live with that report.”

Will we see petrol prices fall?

The fall in oil prices on Tuesday is a moment of respite for global markets, but it is not a return to normal yet, especially for drivers at the pump, industry analysts told the BBC.

Petrol prices are fast to rise but slow to fall because sellers will want to sell the fuel they have already bought at a higher cost before reducing charges, said Alberto Bellorin from InterCapital Energy.

“The relief at the pump will take much longer to materialise,” he said.

Park Kee Hyun from the S Rajaratnam School of International Studies said “uncertainty remains high” despite the drop in oil prices on Tuesday.

Fuel prices will remain “volatile” as companies will charge a premium for shipments to account for any risk of the situation worsening, said Park.

Prices of US-traded crude and Brent have both fallen by more than 6% on Tuesday after surging since the start of the conflict.

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