Trump calls for producers to pump more oil amid Iran shipping lane fears
President Donald Trump called for the US and other oil-producing economies to pump more oil as crude prices remain volatile following strikes on Iranian nuclear facilities.
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.
'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.
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.
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.
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.
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTÉ News
31 minutes ago
- RTÉ News
West condemns 'threats' against head of nuclear watchdog
The UK, France and Germany have condemned what they describe as threats against the head of the International Atomic Energy Agency (IAEA) and called on Iran to guarantee the safety of the watchdog's staff on its territory. "France, Germany and the United Kingdom condemn threats against the Director General of the IAEA Rafael Grossi and reiterate our full support to the Agency and the DG in carrying out their mandate," said a joint statement issued by their foreign affairs ministries. "We call on Iranian authorities to refrain from any steps to cease cooperation with the IAEA. We urge Iran to immediately resume full cooperation in line with its legally binding obligations, and to take all necessary steps to ensure the safety and security of IAEA personnel," they added. The joint statement did not specify what threats had been made against Mr Grossi. Earlier, Iran said that it could not be expected to guarantee the safety of IAEA inspectors, so swiftly after its nuclear sites were struck by Israel and the United States strikes in the 12-day conflict that ended with a ceasefire last week. "How can they expect us to ensure the safety and security of the agency's inspectors when Iran's peaceful nuclear facilities were attacked a few days ago?" foreign ministry spokesperson Esmaeil Baghaei told a news conference. The IAEA's board voted earlier this month to declare that Iran was in violation of its obligations under the global nuclear Non-Proliferation Treaty. Iranian officials have suggested that vote helped pave the way for Israel's attacks. Mr Baghaei said that a parliamentary bill approved by the Guardian Council makes it mandatory for the government in Tehran to suspend cooperation with the UN nuclear watchdog. "Iran shouldn't be expected to accept its obligations under the nuclear Non-Proliferation Treaty when the UN nuclear watchdog has stopped short of condemning the attacks on Iran's nuclear sites," he added. Iran hits out at Trump 'psychological and media games' Iran has criticised US President Donald Trump's shifting stance on whether to lift economic sanctions against the country as "games" that were not aimed at solving the problems between them. "These [statements by Trump] should be viewed more in the context of psychological and media games than as a serious expression in favour of dialogue or problem-solving," Mr Baghaei said. The comments came after Iran's deputy foreign minister said that talks between Tehran and Washington cannot resume unless the US rules out further strikes. Majid Takht-Ravanchi told the BBC that the US had signalled it wants to return to the negotiating table. "We have not agreed to any date, we have not agreed to the modality. "Right now we are seeking an answer to this question. Are we going to see a repetition of an act of aggression while we are engaging in dialogue?" The US needed to be "quite clear on this very important question", he said. The two countries were in talks over Tehran's nuclear programme when the strikes took place earlier this month. The deputy minister said that the US had signalled it did "not want to engage in regime change" by targeting Supreme Leader Ayatollah Ali Khamenei. Mr Takht-Ravanchi also said that Iran should still be allowed to enrich uranium. "The level of that can be discussed, the capacity can be discussed, but to say that you should not have enrichment, you should have zero enrichment, and if you do not agree, we will bomb you, that is the law of the jungle".
Irish Independent
an hour ago
- Irish Independent
Clare county council elects new cathaoirleach
Cllr Paul Murphy (Fine Gael) was elected as Cathaoirleach for the 2025-2026 term and standing beside him as Laes-Cathaoirleach is Cllr Clare Colleran Molloy (Fianna Fáil). Fianna Fáil councillor Alan O'Callaghan handed over the seat of Cathaoirleach, reflecting on his term, with Clare winning the All-Ireland for the first time in 11 years being on his his highlights. Cllr O'Callaghan thanked his family and friends for support through the year. 'To everyone here in the chamber, to all the members you were respectful of the chair, and I really appreciate that.' 'We leave no one behind. And that is very important as a local authority. Bring everyone along with you.' In response to the departing of Cllr O'Callaghan as the first citizen in the chamber, councillors remarked on his fun-loving professional demeaner that always ensured matters of business were handled within meeting times and gave each councillor the 'freedom' they needed, says Michael Begley who was elected Cathaoirleach in 2018. Cllr John Crowe nominated Cllr Paul Murphy saying that he is a 'real team member for all of us'. Cllr Murphy is the first person elected Cathaoirleach from Clarecastle in the history of the council and was praised for being a trustworthy and dependable councillor for the county. Upon election, Cllr Murphy said: 'It is a huge honour to be sitting here today as Clare County Council. I am deeply privileged to accept this role with your full support.' 'Many hands make light work… this seat belongs to the people and not to myself.' Additionally, Cllr. Clare Colleran-Molloy made history with her election as the first Leas-Cathaoirleach to be elected with American citizenship in Clare County Council. She took over the seat from Cllr. Mary Howard (Fine Gael). Cllr Colleran-Molloy was nominated with praises for her commitment to local government. Accepting the seat she said: 'I will answer the call, and I will do my best to help.' Furthermore, the municipal distracts have proceeded with elections as well. Shannon elected MD Cllr John Crowe as Cathaoirleach, and Cllr Michael Begley as Leas-Cathaoirleach. Cllr Mary Howard is the new Mayor of Ennis having been elected last Thursday with Cllr Pat Daly as deputy Mayor of Ennis. In Killaloe MD, Cllr Pat Burke was elected as Cathaoirleach and Cllr Tony O'Brien as Leas-Chathaoirleach. Finally, in West Clare, Cllr Bill Slattery will be Cathaoirleach for the next year with Cllr Michael Shannon serving as Leas-Chathaoirleach. Funded by the Local Democracy Reporting Scheme.
RTÉ News
an hour ago
- RTÉ News
Israel steps up Gaza bombardment ahead of White House talks on ceasefire
Palestinians in northern Gaza reported one of the worst nights of Israeli bombardment in weeks after the military issued mass evacuation orders this morning, while Israeli officials were due in the US for a new ceasefire push by the Trump administration. A day after US President Donald Trump urged an end to the 20-month-old war, a confidant of Prime Minister Benjamin Netanyahu was expected at the White House for talks on a Gaza ceasefire, Iran, and possible wider regional diplomatic deals. But on the ground in the Palestinian territory there was no sign of fighting letting up. "Explosions never stopped; they bombed schools and homes. It felt like earthquakes," said one man in Gaza City. "In the news we hear a ceasefire is near, on the ground we see death and we hear explosions." Israeli tanks pushed into the eastern areas of Zeitoun suburb in Gaza City and shelled several areas in the north, while aircraft bombed at least four schools after ordering hundreds of families sheltering inside to leave, residents said. At least 25 people were killed in Israeli strikes, health authorities said, including ten people killed in Zeitoun. The heavy bombardment followed new evacuation orders to vast areas in the north, where Israeli forces had operated before and left behind wide-scale destruction. The military ordered people there to head south, saying that it planned to fight Hamas militants operating in northern Gaza, including in the heart of Gaza City. A day after Mr Trump called to "Make the deal in Gaza, get the hostages back", Israel's strategic affairs minister Ron Dermer, a confidant of Mr Netanyahu's, was expected today at the White House for talks on Iran and Gaza, an Israeli official said. In Israel, Mr Netanyahu's security cabinet was expected to convene to discuss the next steps in Gaza. On Friday, Israel's military chief said the present ground operation was close to having achieved its goals, and yesterday, Mr Netanyahu said new opportunities had opened up for recovering the hostages, 20 of whom are believed to still be alive. Palestinian and Egyptian sources with knowledge of the latest ceasefire efforts said that mediators Qatar and Egypt have stepped up their contacts with the two warring sides, but that no date has been set yet for a new round of truce talks. A Hamas official said that progress depends on Israel changing its position and agreeing to end the war and withdraw from Gaza. Israel says it can end the war only when Hamas is disarmed and dismantled. Hamas refuses to lay down its arms. The war began when Hamas fighters stormed in to Israel on 7 October 2023, killed 1,200 people, most of them civilians, and took 251 hostages back to Gaza in a surprise attack that led to Israel's single deadliest day. Israel's subsequent military assault has killed more than 56,000 Palestinians, most of them civilians, according to the Gaza health ministry, has displaced almost the entire 2.3 million population and plunged the territory into a humanitarian crisis.
