Trump tells ‘everyone' to keep oil prices down
US President Donald Trump on Monday expressed a desire to see oil prices kept down amid fears that ongoing fighting in the Middle East could cause them to spike.
'Everyone, keep oil prices down, I'm watching! You're playing into the hands of the enemy, don't do it,' he wrote in all caps on his Truth Social platform.
Oil prices stable as investors await Iranian response to US strikes
Trump followed up with another post addressed to the US Department of Energy, encouraging it to 'drill, baby, drill' and saying 'I mean now.'
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Business Recorder
44 minutes ago
- Business Recorder
Iran fires missiles at US airbase in Qatar, Doha says attack intercepted, no casualties
DOHA: Iran's military said it carried out a missile attack on the Al Udeid U.S. airbase in Qatar on Monday after explosions were heard across the Qatari capital following Tehran's threat to retaliate for U.S. airstrikes on its nuclear sites. The Iranian military said the attack was 'devastating and powerful' but U.S. officials said no U.S. personnel were killed or injured in the attack on the airbase, the largest U.S. military installation in the Middle East. Iran, which had been warned by Washington not to retaliate or face massive U.S. military action, had informed the U.S. via two diplomatic channels hours ahead of the attack, as well as Qatari authorities, a senior regional source told Reuters. Qatar's defence minister told Al Jazeera its air defences had intercepted missiles directed at the Al Udeid air base, the largest U.S. military installation in the Middle East. Iran had issued threats to retaliate against the United States after U.S. bombers dropped 30,000-pound bunker-busters on Iranian underground nuclear facilities at the weekend, joining Israel's air war against Tehran, and President Donald Trump mooted the possibility of the Iranian government being toppled. The attack came shortly after a Western diplomat told Reuters there had been a credible threat to a U.S. military base in the Gulf state following the unprecedented U.S. airstrikes on Iran's uranium enrichment programme. Trump 'still interested' in Iran diplomacy: White House A source familiar with the matter told Reuters that Qatar, situated just across the Gulf from Iran, had shut its airspace after receiving the advance warning from Iran. Bahrain, another U.S.-allied Gulf Arab state just to the north of Qatar, said it had also shut its airspace after the Iranian strike against the Al Udeid base. In addition, the U.S. Ain al-Asad air base in Iraq had activated its air defence system out of concern for a potential attack, military sources said. The main U.S. military base in Iraq's western neighbour Syria was also on full alert for possible attack by Iran or groups, a Syrian security source said. Qatar, a small, wealthy Gulf Arab state, had earlier announced it had closed its airspace temporarily to ensure the safety of residents and visitors. That followed an advisory from the U.S. embassy in Qatar to Americans to shelter in place, out of what it said was 'an abundance of caution'. Two U.S. officials said Washington had assessed that Iran could carry out attacks targeting American forces in the Middle East soon, although the U.S. was still seeking a diplomatic resolution that would see Tehran forgo any reprisal. Earlier on Monday, Israel bombed a political prison in Tehran, in a renewed demonstration of its willingness to strike not only beyond military and nuclear targets but key pillars of Iran's ruling system. Despite Iran's threats to challenge oil shipments from the Gulf, oil prices fell 4% in volatile trading, suggesting traders doubted the Islamic Republic would follow through on any action that would disrupt global supplies. Iranian Foreign Minister Abbas Araqchi met Russian President Vladimir Putin in Moscow as Tehran sought backing from one of its last major power friends for its next steps. 'Viva la libertad' Israel made clear that its strikes on Evin prison and other targets in Tehran were intended to hit the Iranian ruling apparatus broadly, and its ability to sustain power. 'Viva la libertad!' Foreign Minister Gideon Saar wrote on X, accompanying a video of an explosion at a building with a sign identifying it as an entrance to Evin prison. Reuters could not immediately verify the video posted by Saar, although other videos showing the aftermath of the strike on the prison were verified as genuine. Iran issues warning to 'gambler' Trump: 'We will end this war' Iran's IRIB state broadcaster released video showing rescue workers combing the flattened wreckage of a building at the prison, carrying a wounded man on a stretcher. The Mizan news outlet of Iran's judiciary said urgent action was being taken to protect the health and safety of inmates there. Evin has long been Iran's primary prison for housing political detainees and security prisoners, as well as the site of executions that remain strong memories for the opposition. Several high-profile foreign prisoners are also held there. Israel's military said it had also struck Revolutionary Guard command centres responsible for internal security in the Tehran area. The military was 'currently striking, with unprecedented force, regime targets and governmental repression bodies in the heart of Tehran,' Defence Minister Israel Katz said in a statement. Much of Tehran's population of 10 million has fled after 10 days of bombing. Tasnim news agency reported a strike at an electricity feeder station in the Evin neighbourhood. Power company Tavanir reported some areas in the capital saw electricity cuts. Limited options Since Trump joined Israel's campaign by dropping massive bunker-buster bombs on Iranian nuclear production sites on Sunday morning, Iran has repeatedly threatened to retaliate. 'Mr Trump, the gambler, you may start this war, but we will be the ones to end it,' Ebrahim Zolfaqari, spokesperson for Iran's Khatam al-Anbiya central military headquarters, said on Monday in a recorded, English-language video statement. The Trump administration maintains that its aim is solely to destroy Iran's nuclear programme, not to open a wider war. But in a social media post on Sunday, Trump spoke of toppling the hardline clerical rulers who have been Washington's principal foes in the Middle East since Iran's 1979 Islamic Revolution. Five insiders with knowledge of the discussions said efforts had been ramped up to anoint a successor for Iran's 86-year-old supreme leader, Ayatollah Ali Khamenei. His son Mojtaba, 56, and Hassan Khomeini, 53, grandson of the revolution's founder Ayatollah Ruhollah Khomeini, are now seen as the frontrunners, they said.
Express Tribune
an hour ago
- Express Tribune
Pakistan issues safety advisory for citizens in UAE over Iran strikes
Listen to article The Pakistan embassy in the United Arab Emirates has issued a safety advisory for its nationals following Iranian missile attacks on US military bases in Qatar and Iraq. In a statement issued on Monday, the embassy advised Pakistani citizens in the UAE to remain in safe locations and avoid areas near military installations. 'In light of regional developments, Pakistani citizens are strongly urged to stay away from military zones and seek shelter in safe areas,' statement added. Read More: Explosions rock Doha as Iran launches missiles toward US bases The advisory comes after Iran fired ballistic missiles at US military bases in Qatar and Iraq in retaliation for US strikes on Tehran's nuclear sites. Iran launched six missiles toward US bases in Qatar Monday evening, following an earlier report that Tehran was preparing to do so. Iran's top security body issued a statement saying it has used the same number of bombs that the US used when striking Iranian nuclear facilities. Several explosions were heard over the Qatari capital, Doha, a Reuters witness said, following Tehran's threats to retaliate against US strikes on Iranian nuclear sites.
Express Tribune
an hour ago
- Express Tribune
Oil prices fall 5% after Iran strikes US bases
Brent crude futures were down $2.91, or 3.8%, at $74.09 a barrel by 1:13 p.m. ET (1713 GMT). US West Texas Intermediate crude (WTI) eased $2.80, or 3.8%, to $71.06. PHOTO: PIXABAY Oil prices sank more than five per cent Monday after Iran attacked a US military base in neighboring Qatar in retaliation for US weekend strikes on Iranian nuclear facilities. Near 1745 GMT, futures for West Texas Intermediate fell 5.3 per cent to $69.96 a barrel, while Brent oil futures fell by similar amounts. Explosions were heard over Qatar's capital, Doha, on Monday, a Reuters witness reported, shortly after a Western diplomat said there had been a credible Iranian threat against the US-run al Udeid air base in the Gulf Arab state since midday. "Oil flows for now aren't the primary target and are likely not to be impacted. I think it's going to be military retaliation on US bases and/or trying to hit more of the Israeli civilian targets," said John Kilduff, a partner at Again Capital. Qatar said it closed its airspace, while the United Arab Emirates' airspace was closed based on flight paths and air traffic control audio, according to Flightradar. US President Donald Trump said he had "obliterated" Iran's main nuclear sites in strikes over the weekend, joining an Israeli assault in an escalation of conflict in the Middle East as Tehran vowed to defend itself. Israel also carried out fresh strikes against Iran on Monday, including on the capital Tehran and the Iranian nuclear facility at Fordow, which was also a target of the US attack. At least two supertankers made U-turns near the Strait of Hormuz following US military strikes on Iran, ship tracking data shows, as more than a week of violence in the region prompted vessels to speed, pause, or alter their journeys. About a fifth of global oil supply flows through the strait. However, the risk of a complete shutdown is low, analysts have said. A telegraphed attack on a well-defended US base could be a first step in reducing tensions, provided there are no US casualties, Energy Aspects said in a post. "Unless there are indications of further Iranian retaliation or escalation by Israel/the US, then we may see some geopolitical risk premium come out of the price in subsequent days," it said. Qatar said there were no casualties from the attack on the US military base. Iran, which is OPEC's third-largest crude producer, said on Monday that the US attack on its nuclear sites expanded the range of legitimate targets for its armed forces and called Trump a "gambler" for joining Israel's military campaign against the Islamic Republic. Meanwhile, Trump expressed a desire to see oil prices kept down amid fears that ongoing fighting in the Middle East could cause them to spike. On his Truth Social platform, he addressed the US Department of Energy, encouraging "drill, baby, drill" and saying, "I mean now." Investors are still weighing up the extent of the geopolitical risk premium, given the Middle East crisis has yet to crimp supply. HSBC expects Brent prices to spike above $80 a barrel to factor in a higher probability of a Strait of Hormuz closure, but to recede again if the threat of disruption does not materialise, the bank said on Monday. Iraq's state-run Basra Oil Company said international oil majors including BP, Total Energies, and Eni had evacuated some staff members working in oilfields.
