Trump calls for producers to pump more oil amid Iran shipping lane fears
Mr Trump urged stepped-up production as the White House sharpened its warnings to Iran against closing the Strait of Hormuz, a vital oil and gas shipping lane, in retaliation for the US strikes on Iran's nuclear programme.
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'To the Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!' Mr Trump posted on social media.
He added: 'EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!'
The push by Mr Trump comes at an uncertain moment as US embassies and military installations in the Middle East are on high alert for potential retaliation.
The USS Dwight D Eisenhower and other warships cross the Strait of Hormuz into the Persian Gulf (Information Technician Second Class Ruskin Naval/U.S. Navy via AP)
Global markets are trying to ascertain what lays ahead after the US struck key Iranian nuclear facilities with a barrage of 30,000-pound bunker busting bombs and Tomahawk missiles.
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Iran's parliament has approved cutting off the Strait of Hormuz, a narrow shipping lane in the Persian Gulf that about 20% of global oil and gas passes through.
It is now up to Iran's national security council to decide whether to move forward with the idea, which could lead to a spike in the cost of goods and services worldwide.
The price of oil jumped 4% shortly after trading began on Sunday night, but it quickly pared back as the focus shifted from what the US military did to how Iran would react.
Oil futures were flip-flopping in Monday morning trading between gains and losses. They still remain higher than they were before the fighting began a little more than a week ago.
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White House press secretary Karoline Leavitt warned Tehran anew against closing the strait, saying 'the Iranian regime would be foolish to make that decision'.
The State Department has doubled the number of emergency evacuation flights it is providing for American citizens wishing to leave Israel, and ordered the departure of nonessential staff from the US Embassy in Lebanon.
It also is stepping up travel warnings around the Middle East because of concerns Iran will retaliate against US interests in the region.
In an alert sent to all Americans worldwide and posted to its website on Sunday, the State Department warned all US citizens abroad to exercise caution.
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White House press secretary Karoline Leavitt (Evan Vucci/AP)
The US Embassy in Qatar issued an alert on its website on Monday urging American citizens in the energy-rich nation to 'shelter in place until further notice'.
Hours later, the Qatari government issued an extraordinary order to shut its busy airspace.
Qatar, across the Persian Gulf from Iran, is home to Al Udeid Air Base, which hosts the forward headquarters of the US military's Central Command.
Many energy industry analysts are sceptical that Iran would go forward with a full closure of the strait, something that it has threatened to do in the past.
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Iran would face the possibility of retaliation against its own shipments and the possibility that the move would upset China, the biggest purchaser of Iranian crude.
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