Oil prices increased as President Trump stated that the U.S. will hold Iran responsible for Houthi attacks after recent airstrikes against the militant group. U.S. crude rose 0.6% to $67.58 per barrel. Trump’s comments highlighted Iran’s culpability, while Defense Secretary Hegseth reinforced the U.S. commitment to a military campaign until Houthi attacks cease.
Oil prices experienced an increase on Monday in response to President Donald Trump’s declaration that the United States would hold Iran accountable for any future attacks by the Houthis, a militant faction in Yemen known for targeting commercial shipping. Specifically, U.S. crude oil futures rose by 40 cents, or 0.6%, reaching $67.58 per barrel, whereas the global benchmark, Brent crude, saw an increase of 44 cents, or 0.62%, bringing its price to $71.02 per barrel.
In his statement on the social media platform Truth Social, President Trump emphasized that the U.S. would view each Houthi attack as an act directed by Iran. He stated, “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,” further asserting that, “IRAN will be held responsible, and suffer the consequences, and those consequences will be dire!” This stern warning follows recent U.S. airstrikes conducted against the Houthi militants over the preceding weekend.
Defense Secretary Pete Hegseth further elaborated on the U.S. military’s commitment to countering the Houthi threat, affirming that the military campaign would remain active until the group ceases its attacks. He articulated the objective of the campaign as a means to ensure freedom of navigation. Hegseth stated, “This campaign is about freedom of navigation and restoring deterrence.” He stipulated that military actions will persist, declaring, “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 following President Trump’s assertion that the U.S. would attribute responsibility for Houthi attacks to Iran. The U.S. has implemented airstrikes against the Houthis, with ongoing military efforts aimed at restoring security and ensuring freedom of navigation. The U.S. administration underscores its determination to respond vigorously to any threats posed by the militant group.
Original Source: www.cnbc.com
