Oil holds near $100 as Trump says America has ‘ammunition, and plenty of time’ to fight Iran war
PUBLISHED FRI, MAR 13 20265:59 AM EDTUPDATED 20 MIN AGO
1/2
KEY POINTS
• Brent crude oil futures, the global benchmark, hovered near the $100 mark on Friday.
• Brent futures are up 9% since the start of the week, building on the 27.9% rise seen last week.
• “We have unparalleled firepower, unlimited ammunition, and plenty of time,” U.S. President Donald Trump said on Truth Social overnight.
Brent crude oil, the global benchmark, held near $100 on Friday morning as the U.S.-Iran war heads toward its third week.
Brent futures
were 1.13% lower at $99.32 per barrel 7:49 a.m. ET. U.S, after closing above $100 Thursday.West Texas Intermediate crude futures
down by 2.07% at $93.75 per barrel.
Oil prices have notched another week of gains, with Brent futures up more than 9%. It follows the 27.9% rise seen last week, which marked the biggest weekly gain in oil prices since the Covid-19 pandemic in 2020. WTI futures, which saw their best week since 1983 last week, are on course to end this week 5.8% higher.
Traders are continuing to monitor developments in the Middle East, where the U.S. and Israel’s war with Iran is soon to stretch into a third week. Overnight, President Donald Trump hinted that an end to the conflict was not imminent.
“We have unparalleled firepower, unlimited ammunition, and plenty of time,” he said, before calling on his followers to “watch what happens” to the Iranian regime on Friday.
On Friday morning, Axios reported that Trump had claimed on a call with G7 leaders earlier this week that Iran was “about to surrender.” A day later, Iran’s new supreme Post too long. Click here to view the full text.
