President Trump says he is close to deciding whether to order a far larger attack on Iran, warning any strike would exceed anything seen in the war so far. He held Tehran responsible for Houthi attacks on Saudi oil tankers and told China and Russia to stay out of the conflict. Oil slipped around 1% on Friday but stayed on course for a weekly gain of 10%.
President Donald Trump said he is close to deciding whether to launch a far larger attack on Iran, after the war opened a new front in the Red Sea. Speaking to Axios, he said Iran had not yet suffered enough, and in his own words: "I am considering a massive attack. Bigger than ever before." He gave no deadline for the decision.
Strikes widen to the Red Sea
The president said he would hold Iran responsible for further Houthi attacks, after the Yemeni group claimed to have struck two Saudi oil tankers in the Red Sea. Those militants declared a maritime embargo against Saudi Arabia on Monday, threatening to cut the kingdom's oil exports through the Red Sea and the Bab el-Mandeb Strait. Iran's Revolutionary Guard, meanwhile, said it had struck US military facilities at a base in Jordan, according to state media. US forces have kept up their own campaign, completing a 13th consecutive night of strikes on Iranian targets overnight.
Oil holds its war-driven gains
Even so, oil prices fell around 1% on Friday morning, yet remained on track for a weekly rise of 10%. Brent crude futures held above $99 a barrel. US West Texas Intermediate crude traded at $91.08.
Warnings to rivals and allies
Beyond the battlefield, Trump also warned China and Russia against involvement in the conflict, saying any such move would go badly for them. He said Xi had told him China would not sell weapons to Iran, and that Putin had given a similar assurance.
Separately, the UK said it stood ready to defend itself after Iran accused it of complicity for letting US forces use British bases. The United States and Iran have been at war since US and Israeli strikes in February that killed senior Iranian officials, including the country's supreme leader.
Sources: CNBC, Investing.com
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