Donald Trump Claims Iran Is "About to Surrender" Amid Middle East Tensions Donald Trump made sweeping assertions during a virtual G7 meeting on Wednesday, claiming that Iran is "about to surrender" and that the United States has "got rid of a cancer threatening us all." The remarks, reported by Axios, were cited by three officials from G7 nations, highlighting the president’s confidence in the outcome of Operation "Epic Fury," a U.S. military campaign targeting Iran. Trump told allies during the call that the operation had effectively dismantled a perceived existential threat, though he acknowledged the absence of a clear Iranian leader to formally acknowledge defeat. The president’s comments came as tensions in the Middle East escalated, with intense drone and missile exchanges between Iran, Israel, and the United States. Trump criticized Iran’s leadership, calling them "deranged scumbags" and expressing pride in his role in "killing them." The remarks followed days of escalating violence, including reports of Iran’s alleged attacks on U.S. military assets. U.S. officials confirmed that the aircraft carrier USS Abraham Lincoln remains operational, continuing to support Operation Epic Fury. However, details about a recent incident involving a U.S. plane near Iran remain unclear, with Washington describing it as either a missile attack or a mishap. Tehran has claimed responsibility for downing another U.S. jet during a refueling mission, though the U.S. military has not confirmed the incident. The conflict has also seen Iran and Hezbollah launch coordinated strikes on Israeli cities, including the bombing of Zarzir, which left buildings damaged and 60 people injured. Meanwhile, Iran has issued warnings to the U.S. and Israel, threatening to target energy infrastructure and nuclear facilities.#iran #donald_trump #operation_epic_fury #us_military #g7
Iran-US-Israel War: Trump Claims Iran 'About To Surrender' Amid New Leader's Vow Of Revenge US President Donald Trump told G7 leaders during a virtual meeting that Iran is "about to surrender" following military operations, including Operation Epic Fury. During the call, Trump boasted about the results of the campaign, calling it a victory against a "cancer threatening us all." He claimed Iran could not officially announce its surrender due to uncertainty about the country's leadership, stating, "Nobody knows who is the leader." G7 leaders, however, urged Trump to end the conflict and prioritize securing the Strait of Hormuz, a critical maritime route. Trump acknowledged the situation was improving and suggested commercial ships would soon resume operations in the area. Yet, the same day, Iranian explosive-laden boats attacked two fuel tankers in Iraqi waters, setting them ablaze and killing one crew member. Iran showed no signs of backing down. Within 24 hours of Trump's remarks, the country's new Supreme Leader, Mojtaba Khamenei, issued a stark warning. In his first public statement, Khamenei declared that Iran would seek revenge for US-Israeli strikes, stating, "Every citizen killed by the enemy is a case for vengeance in itself." He also vowed to keep the Strait of Hormuz closed as leverage against the US and warned that attacks on Middle East neighbors would continue. Trump criticized Khamenei, mocking him as a "lightweight" and calling him "unacceptable" to the US. He argued that appointing someone to continue Khamenei's policies would force the US into another war within five years. Trump had previously insisted the US should have a role in selecting Iran's next leader, drawing parallels to past US involvement in Venezuela.#iran #donald_trump #strait_of_hormuz #mohammad_khamenei #g7
Which countries have seen the highest petrol prices since the Iran war? Motorists worldwide are experiencing the economic fallout from the United States and Israel’s conflict with Iran, with fuel prices surging since the attacks began on February 28. In the U.S., regular petrol prices have risen by 20 percent, climbing from an average of $2.94 in February to $3.58 as of March. Several states now exceed $4 per gallon, with California reaching over $5, its highest level in more than two years. Global petrol prices have risen in at least 85 countries, according to data from Global Petrol Prices, a platform tracking retail energy costs across 150 nations. Some nations delay price updates until the end of the month, so further increases are expected in April. Vietnam recorded the steepest increase, nearly 50 percent, as prices for 95-octane petrol rose from $0.75 to $1.13 per litre. Laos followed with a 33 percent rise, Cambodia at 19 percent, Australia at 18 percent, and the U.S. at 17 percent. Asia has been hit hardest due to its reliance on the Strait of Hormuz, a critical oil route closed since the war began. Japan and South Korea, which import 95 percent and 70 percent of their oil from the Gulf respectively, have taken emergency measures. Japan ordered oil reserves to prepare for potential releases, while South Korea imposed a first-time petrol price cap in 30 years. In South Asia, countries like Pakistan and Bangladesh face greater strain due to limited financial buffers and smaller strategic reserves. Bangladesh closed all universities, and Pakistan implemented a four-day workweek, school closures, and a 50 percent work-from-home policy to conserve fuel. European leaders, including French President Emmanuel Macron, convened an emergency meeting of G7 finance ministers to address rising prices.#iran_war #strait_of_hormuz #g7 #global_petrol_prices #emmanuel_macron
Japan announces release of strategic oil reserves as Middle East tensions push prices up Japan will release part of its emergency oil reserves to stabilize energy supplies amid rising tensions in the Middle East, according to Reuters. The move includes the release of 15 days’ worth of oil held by the private sector and one month’s worth of state oil reserves, as authorities seek to ease supply concerns and calm global energy markets. Prime Minister Sanae Takaichi stated, “Japan plans to release 15 days worth of private-sector oil reserves and one month's worth of state oil reserves.” The decision comes as oil prices surge and supply risks grow due to the expanding conflict involving the United States, Israel, and Iran, which has raised fears of shipping disruptions in key energy routes. France’s minister also noted that countries are releasing oil reserves as part of a “coordinated” effort. The International Energy Agency (IEA) had urged major economies to consider coordinated action earlier this week, calling for the release of emergency stockpiles to support global supply. Japanese Finance Minister Satsuki Katayama confirmed, “IEA called for each country to do a coordinated release of oil reserves.” The G7 nations, including Japan, have agreed to closely monitor energy market developments and take necessary measures to support global supply, including the release of oil reserves. The meeting involved finance ministers from G7 countries, as well as representatives from the Organisation for Economic Cooperation and Development, the World Bank, and the International Monetary Fund. G7 energy ministers are expected to meet soon to discuss further steps. Japan is particularly vulnerable to disruptions in Middle Eastern supplies, as it relies on the region for about 95% of its oil imports.#japan #strait_of_hormuz #prime_minister_sanae_takaichi #g7 #international_energy_agency
Oil prices fall as Trump weighs taking over Strait of Hormuz Oil prices declined Monday after briefly surpassing $120 per barrel, driven by President Donald Trump’s remarks suggesting the U.S. might take control of the Strait of Hormuz, a critical maritime route for global oil exports. The Strait, through which 20% of the world’s oil is transported, has been a focal point of tensions amid the ongoing conflict with Iran. Trump told CBS News during a phone call that ships are moving through the waterway but hinted at considering U.S. military intervention to secure the passage. He also claimed the war with Iran would soon end. The market reaction was swift. U.S. crude oil fell 6.19% to $85.27 per barrel, while global benchmark Brent crude dropped 4.6% to $88.43. Earlier in the session, prices had surged above $100 per barrel as Gulf Arab nations reduced production due to disruptions caused by Iranian threats. West Texas Intermediate (WTI) crude futures had earlier climbed to $119.48, the highest level since Russia’s invasion of Ukraine in 2022. The Strait’s closure has triggered the largest oil supply disruption in history, according to Rapidan Energy. Analysts warned that if the crisis persists, Brent crude could rise to $135 per barrel within four months, with prices exceeding $110 if the situation lasts two months. The G7 energy ministers are set to hold a virtual meeting Tuesday to discuss potential joint releases of oil reserves from national stockpiles, though any action would follow the meeting. Gulf Arab states, including Kuwait, Iraq, and the United Arab Emirates, have implemented production cuts to manage storage constraints. Kuwait, the fifth-largest OPEC producer, announced precautionary reductions in oil output and refinery activity due to Iranian threats. Iraq’s production has plummeted 70% to 1.#iran #brent_crude #donald_trump #strait_of_hormuz #g7
Stock Market Today: Dow, S&P Live Updates for March 9 Equities saw a reduction in losses on March 9 as the Financial Times reported that Group-of-Seven nations are considering a coordinated release of petroleum from strategic reserves. This potential action aims to stabilize energy prices, which have been rising sharply in recent weeks. The news helped curb declines in global markets, particularly in Asia, where the region’s benchmark stock index had earlier dropped by as much as 5.6% before recovering to below a 4% loss. Equity-index futures for both the U.S. and European markets also showed signs of stabilization. The report, which was first shared by the Financial Times, indicated that the G7 countries are exploring measures to address the surge in energy costs. While details of the proposed release remain unclear, the potential intervention has sparked renewed optimism among investors. Markets had been under pressure earlier in the week due to concerns over inflation and geopolitical tensions affecting energy supplies. The release of oil from reserves could provide temporary relief by increasing supply and reducing price volatility. In Asia, the rebound in the benchmark index followed a sharp decline driven by fears of prolonged high energy prices. Traders had anticipated that the G7’s potential action would ease market stress, and the news appeared to validate those expectations. However, the recovery was partial, with the index still trading below its previous levels. Equity-index futures for the U.S. and Europe also narrowed their losses, suggesting that investors are cautiously optimistic about the potential impact of the G7’s decision. The market reaction highlights the sensitivity of global equities to energy price movements.#energy_prices #stock_market #financial_times #group_of_seven #g7
