Trump's Iran war speech paints a grim picture for oil markets with more than 600 million barrels at risk

President Trump vowed to continue military action against Iran "for weeks" and to hit Iran "extremely hard" in a national address. The escalation raises Middle East supply risk, is likely to push oil prices higher, and should prompt risk-off positioning and elevated volatility across markets.

Analysis

President Trump vowed to continue military action against Iran "for weeks" and to hit Iran "extremely hard" in a national address. The escalation raises Middle East supply risk, is likely to push oil prices higher, and should prompt risk-off positioning and elevated volatility across markets.