Trump Warns Israel Not to Strike Iran, Oil Prices Reverse Decline Amid Ceasefire Uncertainty

U.S. President Donald Trump’s warning comes after Israeli Defence Minister Israel Katz announced that he had ordered retaliatory strikes on Tehran after Iran continued bombing after a ceasefire was declared.

In an attempt to hold the ceasefire between Iran and Israel, U.S. President Donald Trump publicly warned Israel on Tuesday not to escalate its military campaign against Iran, calling potential airstrikes a “major violation” of a ceasefire he said was already in effect.

“ISRAEL. DO NOT DROP THOSE BOMBS. IF YOU DO IT IS A MAJOR VIOLATION. BRING YOUR PILOTS HOME, NOW!,” Trump wrote on Truth Social.

Trump’s remarks come just hours after he announced a ceasefire between Iran and Israel. Despite the declaration,  reports emerged Tuesday that Iranian forces had fired missiles into Israel, prompting Israeli Defense Minister Israel Katz to announce that he had ordered strikes on targets in Tehran.

To dissuade any retaliatory action by Israel, Trump followed up with another post stating that “Israel is not going to attack Iran,” promising that any planes that may be spotted are going to “turn around and head home.”

Crude oil prices, which had been under pressure overnight, were seen reversing those losses after reports of bombings despite the ceasefire, making Trump’s declaration appear fragile. West Texas Intermediate (WTI) crude was down 3.5% to $66 a barrel, while Brent crude futures were down more than 3.2% to $69.16 in morning trade.

The United States Oil Fund (USO) was down nearly 3% in pre-market trade. The USO ETF is still holding onto gains of more than 6% over the past month. Shares of Exxon Mobile (XOM) was were also down during pre-market trade, slipping by more than 1.3%. 

Trump told reporters outside the White House that both Israel and Iran violated a ceasefire he announced hours earlier. He said he was not happy with either country, more so Israel.

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