Oil Prices Surge Following Trump’s Warning to Iran on Houthi Attacks
Oil prices rose due to President Trump’s statement holding Iran accountable for any future Houthi attacks. U.S. crude increased to $67.58 per barrel, while Brent rose to $71.02. Trump emphasized Iran’s responsibility in a Truth Social post, following U.S. airstrikes against Houthi forces. Defense Secretary Hegseth assured continued military action until Houthi attacks cease.
On Monday, oil prices experienced an increase following remarks by President Donald Trump, who stated that the United States would hold Iran accountable for any future aggressions initiated by the Houthis, a militant faction in Yemen known for attacking commercial vessels. The price of U.S. crude oil futures rose by 40 cents, reflecting a 0.6% gain, reaching $67.58 per barrel, while the global benchmark for Brent crude increased by 44 cents, or 0.62%, settling at $71.02 per barrel.
In a statement shared via the social media platform Truth Social, President Trump asserted, “Every shot fired by the Houthis will be looked upon, from this point forward, as being a shot fired from the weapons and leadership of IRAN. IRAN will be held responsible, and suffer the consequences, and those consequences will be dire!” This announcement follows recent U.S. airstrikes targeting Houthi forces over the preceding weekend.
Defense Secretary Pete Hegseth emphasized that the U.S. military operations would persist until the Houthi militant group ceases its assaults. He elaborated during an interview on Fox News, stating, “This campaign is about freedom of navigation and restoring deterrence. The minute the Houthis say we’ll stop shooting at your ships, we’ll stop shooting at your drones, this campaign will end. But until then, it will be unrelenting.”
In conclusion, oil prices saw an upward trend following President Trump’s declaration regarding Iran’s responsibility for potential Houthi attacks. U.S. crude and Brent benchmarks increased as the administration vowed to continue military operations against the Houthis. The commitment to maintaining freedom of navigation remains a central theme in addressing this maritime threat.
Original Source: www.cnbc.com
