Oil prices fall sharply after Trump says Iran war ‘pretty much’ complete

President Donald Trump had said on Monday that the war would be over ‘very soon’

People mourn the killing of Iran’s supreme leader, Ayatollah Ali Khamenei, at a rally in Tehran, Iran
People mourn the killing of Iran’s supreme leader, Ayatollah Ali Khamenei, at a rally in Tehran, Iran

155 days ago

Iran: ‘We are the ones who ⁠will determine the end of the war’

Iran’s Revolutionary Guards said they would not allow “one litre of oil” to be shipped from the ‌Middle East if US and Israeli attacks continue, prompting further warnings from president Donald Trump.

Trump had earlier expressed confidence in a swift end to hostilities even after Iran appointed Ayatollah Mojtaba Khamenei as its new supreme leader in a signal of defiance.

Trump said that the United States had inflicted serious damage on Iran’s military and predicted the conflict would end well before the initial four-week time frame he had laid out, though he has not defined what victory would look like.

Israel says its war aim is to overthrow Iran’s system of clerical rule. US officials mainly say Washington’s aim is to destroy Iran’s missile capabilities and nuclear programme.

At least 1,332 Iranian civilians have been killed and thousands wounded since the barrage of air and missile strikes, according to Iran’s UN ambassador. Trump warned that ⁠US attacks could rise sharply if Iran sought to block tanker traffic through the Strait of Hormuz, which handles one-fifth of the world’s oil supply.

“We will hit them so hard that it will not ‌be ‌possible ​for them or anybody else helping them to ever recover that section of the world,” Trump said at a news conference on Monday.

Iran’s Islamic Revolutionary Guards Corps said it would not allow any oil to leave the region if attacks from the United States and Israel continue.

“We are the ones who ⁠will determine the end of the war,” a spokesperson said, describing Trump’s comments as “nonsense”, according to state ​media.

In a later Truth Social post, Trump repeated his warning.

“If Iran does anything that stops the flow of ​Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far,” he said. – Reuters


155 days ago

Iran unlikely to resume negotiations with US

Iran’s foreign minister Abbas Araqchi said Iran was unlikely to resume negotiations with the US, ‌citing what he described as a “bitter experience” with past talks.

“After three rounds of negotiation, ​the American team in the negotiation said itself that we made a big progress. Still, they decided to attack us. So, I don’t think talking to the Americans any more would be on our agenda any more,” he ⁠said in an interview with PBS.

The war has already effectively shut the Strait of Hormuz, leaving ⁠tankers unable to sail for more than a week and ​forcing producers to halt pumping as storage facilities fill.

A delivery staff unloads a gas cylinder from a truck at a distribution point in Mumbai, India following a wild day of swings. Photograph: Getty Images
A delivery staff unloads a gas cylinder from a truck at a distribution point in Mumbai, India following a wild day of swings. Photograph: Getty Images

Stocks rallied and oil prices plunged in Asian trading on Tuesday after US President Donald Trump declared ‌the Middle East war could be “over soon”.

But hopes of a speedy resolution to the conflict were soon dashed by defiant statements from Iran’s military indicating it would continue fighting.

Mojtaba Khamenei’s appointment on Monday appeared to dash hopes of a swift end to the war, sending oil markets surging and share markets nosediving, before swinging in the other direction when Trump predicted a quick end to the war and reports of a possible ease in sanctions on Russian energy. – Reuters


155 days ago

Iranian women’s football team arrive at Australian airport

The Iranian women’s football team left their hotel and arrived at Gold Coast airport on Tuesday afternoon, appearing to have just hours left to take up Australia’s offer of asylum before they depart the country.

Five players, led by captain Zahra Ghanbari, were formally granted protection in Australia by home affairs minister Tony Burke early on Tuesday morning. The group has already been given an offer to train with A-League women’s club Brisbane Roar.

Police officers clear the road for a departing bus transporting members of the Iranian Women's Asia Cup football team to the airport, after members of the Iranian community in Australia attempted to block its path Photograph: Getty Images
Police officers clear the road for a departing bus transporting members of the Iranian Women's Asia Cup football team to the airport, after members of the Iranian community in Australia attempted to block its path Photograph: Getty Images

Advocates connected to the group believed more – including possibly some staff – were considering staying in Australia. But the group, which is still under surveillance by the minders around the team, left their hotel with one player in tears.

Protesters briefly blocked the departure of the bus, before it continued on to drop the players off at the Gold Coast airport.

Amnesty International Australia’s Zaki Haidari said the players must be given an opportunity to speak to officials at the airport.

“Customs and immigration officials, as well as Australian Border Force officers, have an opportunity to intervene and remind the team of their rights to seek protection in Australia,” he said, adding the offer of protection from the Australian government should be extended to players’ families in Iran. – The Guardian


155 days ago

US air defence system deployed to southeastern Turkey

Turkey’s defence ministry said on ‌Tuesday one US Patriot air ​defence system was deployed to the southeastern Malatya province ​as part of measures ⁠by Nato to boost ‌its ‌ally’s ​air defences amid missile threats ⁠from ​the Iran war.

The ​Kurecik Nato radar ‌base, which provides ​vital data for the alliance ⁠and ⁠helped ​identify two Iranian ballistic missiles heading toward Turkey, is located in Malatya.

In a statement, ‌the ministry ⁠said Turkey would continue to co-operate and ‌evaluate regional developments with ​Nato allies.