U.S. Dropped ‘Five to Six' Bunker-Buster Bombs on Fordow, Trump Told Fox News
Fox News host Sean Hannity said President Trump told him the U.S. used 'five to six' bunker-buster bombs in its attack on Iran's Fordow nuclear site. Hannity said the two other sites attacked, Natanz and Isfahan, were targeted with 30 Tomahawk missiles launched from American submarines some 400 miles away.
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Yahoo
11 minutes ago
- Yahoo
Oil prices poised to jump after US strikes on Iran with Strait of Hormuz status in focus
Oil was poised to open higher Sunday after US strikes on Iran's three main nuclear sites intensified fears of a potential supply shock, amid growing concerns that Tehran could retaliate by closing a key maritime chokepoint. Crude futures had already posted weekly gains following the outbreak of conflict between Israel and Iran just over a week ago. West Texas Intermediate (CL=F) closed at $74.93 per barrel, while Brent crude (BZ=F), the international benchmark, settled at $76.73. Prices are up over 10% in the week since the conflict began. 'Oil prices are expected to open at least $5 per barrel higher when trading begins at 6:00 p.m. Eastern. We're looking at $80 oil on the open,' said Andy Lipow, president of Lipow Oil Associates. On Sunday, traders weighed possible retaliation moves from Iran, a major oil producer and exporter, following the US's direct involvement. According to state media, Iran's parliament voted to close the Strait of Hormuz. The final decision on whether to shut the vital waterway — which handles roughly 20% of global oil flows — rests with Iran's Supreme National Security Council and Supreme Leader Ayatollah Ali Khamenei. What Wall Street once viewed as a low-probability event is now being treated as a significantly heightened risk. "Should oil exports through the Strait of Hormuz be affected, we could easily see $100 oil," Lipow said. Following the outbreak of the Israel-Iran war, JPMorgan analysts forecast that under a "severe outcome," a closure of the Strait of Hormuz could push oil prices to $120–$130 per barrel. If crude climbs into that range, analysts predict gasoline and diesel prices could rise by as much as $1.25 per gallon. 'Consumers would be looking at a national average gasoline price of around $4.50 per gallon—closer to $6.00 if you're in California,' Lipow said. Other possible retaliatory moves from Iran could include supporting Yemen's Houthi rebels in renewed attacks on commercial shipping. If the conflict escalates and the US or Israel targets Iran's oil export infrastructure, analysts warn that Tehran may retaliate by striking export facilities in neighboring countries. 'In other words, 'If we can't export our oil, you can't have yours,'' Lipow said. The key issue isn't just the potential for disruption, but how long it lasts, Rebecca Babin, senior energy trader at CIBC Private Wealth, told Yahoo Finance on Sunday. 'If infrastructure is hit but can be quickly restored, crude may struggle to hold gains,' she said. 'But if Iran's response causes lasting damage or introduces long-term supply risk, we're likely to see a stronger and more sustained move higher.' Last week, JPMorgan analysts noted that since 1967 — aside from the Yom Kippur War in 1973 — none of the 11 major military conflicts involving Israel have had a lasting impact on oil prices. In contrast, events directly involving major regional oil producers — such as the first Gulf War in 1990, the Iraq War in 2003, and the imposition of sanctions on Iran in 2018 — have all led to meaningful and sustained moves in oil markets. 'During these episodes, we estimate that oil traded at a $7–$14 per barrel premium to its fair value for an extended period,' wrote JPMorgan's Natasha Kaneva and her team. They added that the most significant and lasting price impacts historically come from 'regime changes' in oil-producing countries — whether that be through leadership transitions, coups, revolutions, or major political shifts. 'While demand conditions and OPEC's spare capacity shape the broader market response, these events typically drive substantial oil price spikes, averaging a 76% increase from onset to peak,' Kaneva wrote. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) had raised output in the months leading up to Israel's strike on Iran on June 13. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
Newsweek
12 minutes ago
- Newsweek
Trump Trolls Iran With Post About 'Regime Change'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump asked on Sunday why there "wouldn't" be "regime change" in Iran if the country's government isn't able to "MAKE IRAN GREAT AGAIN." The U.S. president mused about the possibility on his social media website, Truth Social, writing: "It's not politically correct to use the term, 'Regime Change,' but if the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn't there be a Regime change??? MIGA!!!" Trump's comments came after multiple top Trump administration officials said that regime change was not the U.S.'s goal in launching a series of strikes against three Iranian nuclear facilities this weekend. "This mission was not and has not been about regime change," Secretary of Defense Pete Hegseth told reporters at the Pentagon on Sunday morning. Vice President JD Vance told NBC's Kristen Welker in a "Meet The Press" interview that the U.S. was not at war with Iran but rather with its nuclear program. This is a breaking news story. Updates to follow.
Wall Street Journal
16 minutes ago
- Wall Street Journal
A Welcome Expansion at the EPA
Kudos to President Trump and Environmental Protection Agency Administrator Lee Zeldin. The EPA announced last month that it will reassign more than 130 agency scientists to clear the backlog of new chemicals and pesticides that need review before they can be sold. It's a giant step to protect the environment and human health—and there's more to do. Even as the White House pushes to reduce the size of government, some agencies need additional workers to get vital jobs done. That's certainly true at the EPA, which does more than try to keep air and water clean. It also evaluates chemicals in commercial and household products that prevent contamination in kitchens, infections in hospitals, public-health threats in pests and invasive species in nature.
