Iran Said to Be Ready to Escalate War With US

Summary

President Trump argues oil will fall once the US wins the war with Iran and controls the Strait of Hormuz. Bloomberg's Paul Wallace reports that Iran is signaling readiness to escalate, while market participants expect the Strait of Hormuz to remain effectively closed for months or even into 2026-2027. That disruption is expected to keep upward pressure on energy prices, with Brent holding above $100.

• Trump claims the US is winning the war with Iran and controls the Strait of Hormuz.
• Trump says oil prices will go down once the US wins the war.
• Iran signals it is prepared for a more intense war and can withstand US pressure.
• US attacks have destroyed at least eight Iranian oil tankers in recent days.
• Iran has retaliated by striking bases and ships.
• Analysts see the Strait of Hormuz as effectively closed for months, possibly into 2026-2027.
• Sustained Hormuz disruption is expected to keep energy prices under upward pressure.