Trump Says US Will Assume 'Total Control' Of Iran's Oil And Gas Markets, Warns Of 'Very Hard' Strikes Tonight

In a post on Truth Social, Trump also warned that the U.S. will take over Iran’s Kharg Island in the not-too-distant future.

• Trump cited the U.S.’s takeover of Venezuela’s oil production, saying that it is working out well for both countries.
• He also revealed on Wednesday that the U.S. has been taking out oil amid the ongoing war with Iran, adding that this is why crude oil prices are at $85 a barrel, not $250.
• U.S. stock futures hovered in the green on Thursday despite Trump’s latest threats against Iran.

President Donald Trump on Thursday revealed that the U.S. will assume “total control” of Iran’s oil and gas markets sometime in the future as he gears up to ramp up the attacks on the country.

In a post on Truth Social, Trump also warned that the U.S. will take over Iran’s Kharg Island in the not-too-distant future. He cited the U.S.’s takeover of Venezuela’s oil production, saying that it is working out well for both countries.

“The United States will be hitting Iran (whose Navy, Air Force, Radar, Anti-Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), very hard tonight,” he said.

Trump Reveals US Has Taken Out Millions Of Barrels Of Oil From Iran

Trump revealed on Wednesday that the U.S. has been taking out oil amid the ongoing Iran war, while adding that this is why crude oil prices are at $85 a barrel, not $250.

“Do you know we've been taking out millions of barrels of oil. Nobody knows about it. You know who doesn't know about it? Iran, until right now,” he said while addressing reporters at the White House.

Trump said the United States took out 22 ships late Tuesday night, adding that Iran lacked radar capabilities after the U.S. destroyed them.

Dow Futures In The Green

Meanwhile, U.S. stock futures hovered in the green on Thursday despite Trump’s latest threats against Iran.

Dow Jones Industrial Average (DJIA) futures rose 400 points before paring some of the gains. The S&P 500 futures were up about 0.4%, while the Nasdaq Composite futures rose by 0.8%.

Crude Oil Prices Inch Up

Crude oil prices inched up on Thursday amid rising tensions in the Middle East. U.S. West Texas Intermediate (WTI) crude futures expiring in July were up 0.2%, hovering around $90.21 a barrel. Brent crude futures expiring in August rose 0.02% to hover around $93.12 a barrel.

The United States Oil Fund ETF (USO) edged lower by 0.04% at the time of writing, while the ProShares Ultra Bloomberg Crude Oil ETF (UCO) rose 0.3%.

At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.49%; the Invesco QQQ Trust ETF (QQQ) rose 0.92%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.56%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘bearish’ territory.

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