Oil Prices Surge as Trump Holds Iran Responsible for Houthi Attacks

Oil prices rose after President Trump stated the U.S. would hold Iran accountable for any future Houthi attacks. U.S. crude oil futures rose 0.6%, while Brent crude increased by 0.62%. This follows airstrikes against the Houthis by the U.S. government.

Oil prices experienced an increase on Monday following President Donald Trump’s statement indicating that the United States would hold Iran accountable for any future attacks conducted by the Houthis, a militant group based in Yemen known for targeting commercial shipping. U.S. crude oil futures saw a rise of 40 cents, equivalent to 0.6%, reaching $67.58 per barrel, while the global benchmark Brent crude increased by 44 cents, or 0.62%, to $71.02 per barrel.

President Trump conveyed, “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 statement follows a series of airstrikes launched by the U.S. against the Houthis during the preceding weekend.

Defense Secretary Pete Hegseth stated that the U.S. military campaign against the Houthis would persist until the group ceases its attacks. He noted, “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.”

In summary, oil prices rose due to President Trump’s assertion that Iran will be held accountable for Houthi attacks. The U.S. has initiated airstrikes against the Houthis and will continue its military campaign until the group ceases its hostilities. Trump’s warnings underscore the U.S. commitment to ensuring freedom of navigation in commercial shipping lanes amidst increasing tensions.

Original Source: www.cnbc.com