US President Trump says in primetime address that Iran's navy is gone and air force is in ruins, adds most of Iran's leaders are dead and Iran's ability to launch missiles and drones curtailed

President Trump's address significantly escalates the geopolitical tension surrounding Iran, suggesting a deterioration of its military capabilities and asserting strong U.S. intentions regarding Middle Eastern oil independence and nuclear proliferation. This stance could lead to volatility in energy markets, particularly impacting oil prices and dollar strength against currencies of oil-importing nations, while also heightening risk aversion in equities and safe-haven flows into gold. Traders should be attentive to market reactions as the narrative develops.