Trump threatens to take 'total control' of Iran's oil industry as ceasefire teeters

U.S. President Donald Trump threatened on Thursday to launch major strikes on Iran and take 'total control' of its oil and gas industries, as ongoing attacks between the two countries pushed the Middle East closer to a resumption of full-scale war. The threat came amid a teetering ceasefire, with Trump warning that the U.S. would be 'hitting Iran very hard tonight.' The remarks signal a dramatic escalation in U.S.-Iran tensions, with potential implications for global oil markets and regional stability. Multiple outlets reported the same core threat, though specific details on the scope of strikes or the mechanism for seizing oil infrastructure were not provided. The situation remains fluid, with the ceasefire's collapse potentially triggering broader conflict.

Global Impact

Economically, the threat to seize Iran's oil industry could disrupt global oil supply, raising energy prices worldwide and fueling inflation, particularly in import-dependent economies. Politically, it escalates U.S.-Iran confrontation, potentially undermining the ceasefire and drawing in regional allies, with geopolitical risk premium rising across the Middle East.