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Trump weighs wider strikes on Iran as oil prices spike
Oil prices have risen and financial markets have been roiled as tit-for-tat attacks continue into a sixth day and Iran hints at broader shipping disruptions.
President Donald Trump has stepped up US air strikes on Iran and signaled possible escalation, but Reuters and SCMP Economy cited little indication that a military approach that has not produced concessions from Tehran will succeed now. An interim ceasefire deal reached about a month ago has collapsed, tightening the administration’s options as it seeks leverage over Iran’s position near key shipping lanes.
The SCMP Economy summary describes a wave of tit-for-tat attacks continuing for a sixth day, while Iran warned it could encourage its Houthi allies in Yemen to close the Bab al-Mandeb strait at the mouth of the Red Sea if Washington attacks Iran’s power infrastructure. The threat raises the stakes for global energy flows and has helped drive up global oil prices.
SCMP Economy also reported that Trump has discussed expanding targets, including energy plants and bridges, and has floated more ambitious actions such as deploying ground forces to seize Iran’s Kharg Island oil hub and bombing a deep underground nuclear-linked site known as Pickaxe Mountain. The outlet noted that some options may be unrealistic because of the high risks and potential for domestic and geopolitical blowback, and that similar threats have been backed away from before.