Oil prices increased after President Trump stated the U.S. would hold Iran responsible for future Houthi attacks. U.S. crude rose to $67.58 per barrel, while Brent crude reached $71.02. Trump’s remarks followed U.S. airstrikes against the Houthis, with Defense Secretary Hegseth indicating military action will continue until Houthi aggression stops.
On Monday, oil prices saw an increase following statements from President Donald Trump, asserting that the United States would hold Iran liable for any future attacks by the Houthis, a militant group from Yemen known for targeting commercial shipping. U.S. crude oil futures rose by 40 cents, equivalent to 0.6%, reaching $67.58 per barrel, while global benchmark Brent crude increased by 44 cents, or 0.62%, to $71.02 per barrel.
In his message on the social media platform Truth Social, President Trump declared, “Every shot fired by the Houthis will be looked upon, from this point forward, as being a shot fired from the weapons and leadership of IRAN. IRAN will be held responsible, and suffer the consequences, and those consequences will be dire!” This declaration follows a series of airstrikes conducted by the U.S. against the Houthis over the weekend.
Defense Secretary Pete Hegseth commented that the U.S. military initiative would persist until the Houthi attacks cease. He stated on Fox News, “This campaign is about freedom of navigation and restoring deterrence. The minute the Houthis say we’ll stop shooting at your ships, we’ll stop shooting at your drones, this campaign will end. But until then, it will be unrelenting.” This response highlights the U.S. commitment to safeguarding navigation and maintaining pressure on militant forces.
In summary, oil prices have risen due to President Trump’s assertion that Iran will be held accountable for any future Houthi attacks. His warning followed recent U.S. airstrikes against the Houthis, with Defense Secretary Hegseth emphasizing the campaign’s objective to ensure freedom of navigation and deter further attacks. The United States aims to maintain pressure on the Houthis until their aggression ceases.
Original Source: www.cnbc.com
