US Energy Secretary Wright says we're going to continue to attack Iran and what we're doing now is ensuring the flow of oil, gas and other products through the Strait of Hormuz with or without Iran's cooperation
Newsquawk Staff ·
Says
- We continue to undermine Iran's offensive military capabilities and US President Trump wants to end the conflict with a peace deal, but this will require cooperation of both sides.
What it means
The comments from US Energy Secretary Wright indicate a firm US stance on Iran, suggesting ongoing military pressure while attempting to secure vital energy supplies through the Strait of Hormuz. This could lead to heightened tensions in the region, impacting oil prices and energy markets significantly, while also affecting currency markets, especially for oil-exporting nations. The potential for escalated conflict may create volatility in commodities such as crude oil and gold, which often serve as safe havens in times of geopolitical uncertainty.
Sources
- CRUDE WRAP: WTI (Z6) SETTLES USD 2.32 HIGHER AT 99.47/BBL; BRENT (Z6) SETTLES USD 4.35 HIGHER AT USD 113.17/BBL
- [Market Update] Risk-off trade continues as AI concerns linger; stocks trade at new lows with NQ -3.0% as tech leads losses, while gold sees new lows; Treasuries push to new highs, weighing on USD; oil trades off highs supported by geopolitical risk
- US President Trump called Musk and asked him to lift Ukraine Starlink (SPCX) restrictions, WSJ reports
- Ukraine President Zelensky says Ukraine is ready for peace talks at G20, but so far no such invitation
- An Israeli military official told Channel 12 that here is no reason to launch an attack on Iran before the elections; If we detect preparations in Iran for an attack, we will act
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