Iraq’s Khawr Al Amaya Oil Platform (KAAOT) (Credit: U.S. Navy photo by Mass Communication 2nd Class Nathan Schaeffer/Released)
Oil prices exploded over 17% on Sunday, blasting past the $100 per barrel mark for the first time since the early days of Trump’s decisive strikes against the Iranian regime.
Screenshot: Google Finance
As markets reacted to the latest round of U.S. airstrikes under Operation Epic Fury, the “BIGGEST bombing campaign yet” as Treasury Secretary Scott Bessent revealed just days ago, crude futures surged amid fears of disrupted supplies from the volatile Middle East.
West Texas Intermediate (WTI) crude jumped 16.2% to $102.45, while Brent crude, the international standard, spiked 15.8% to $105.67
According to Google Finance, “Global oil supplies are currently falling approximately 20 million barrels per day short of requirements due to the conflict. Regional producers like Kuwait and Iraq have curtailed output, with Iraqi production reportedly falling by about 70% in key fields as shipping risks escalate.”
This comes hot on the heels of Iran’s desperate attempts to rebuild its shattered missile factories and proxy networks, which our brave forces have been dismantling piece by piece.
On Saturday night, Israel’s public broadcaster KAN reported that the Israeli Air Force struck oil storage depots and refinery facilities in Tehran.
Israeli officials confirmed that the operation focused on fuel depots and energy infrastructure believed to support Iran’s military operations.
After the Tehran refinery was targeted, Iran’s Islamic Revolutionary Guard Corps (IRGC) said it fired missiles at the Haifa refinery in Israel.
But President Donald J. Trump isn’t backing down. In a bold Truth Social post this evening, the Commander-in-Chief dismissed the short-term pain as a necessary step toward crushing the Iranian nuclear threat once and for all.
“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!”
As TGP reported earlier this week, White House official Jarrod Agen outlined the long-term plan to seize Iran’s massive oil reserves from terrorist hands.
According to Agen, the turmoil currently rattling global energy markets is a short-term cost that will ultimately deliver a strategic victory for the United States and its allies.
“This is a long-term gain because what we want to do is get such massive oil reserves in Iran out of the hands of terrorists,” Agen said.
“What we’re going to experience here in the short term is highly outweighed by the long-term benefit because ultimately, we’re not going to have to worry about these issues in the Strait of Hormuz because we’re going to get all of the oil out of the hands of terrorists.”
The post Oil Prices Skyrocket 17%+ Crossing $100 Barrel Amid Iran Escalation — President Trump Fires Back: ‘Short-Term Pain’ for Long-Term Peace appeared first on The Gateway Pundit.