Crude oil prices rose Wednesday after President Donald Trump warned Iran that a “massive Armada” is heading in its direction and time is running out to make deal on its nuclear program.
Global benchmark Brent rose 55 cents, or 0.81%, to $68.12 per barrel by 10:33 a.m. ET. U.S. crude oil was up 63 cents, or 1.01%, to $63.02.
“A massive Armada is heading to Iran. It is moving quickly, with great power, enthusiasm, and purpose,” Trump said in a post on his social media platform Truth Social on Wednesday.
U.S. Central Command said Monday that the Abraham Lincoln Carrier Strike Group had arrived in the Middle East “to promote regional security and stability.”
Trump had threatened to attack Iran if it killed protestors during a mass uprising earlier this month. Thousands of people died after the Islamic Republic cracked down on the unrest. But the U.S. president has held back from military intervention so far.
Trump said the fleet deployed to the Middle East is larger than the forces he ordered to the Caribbean before the U.S. captured Venezuela’s former President Nicolas Maduro.
“Like with Venezuela, it is, ready, willing, and able to rapidly fulfill its mission, with speed and violence, if necessary,” Trump said of the carrier strike group Tuesday in the social media post.
He called for Tehran to make a deal on its nuclear program.
“Time is running out, it is truly of the essence! As I told Iran once before, MAKE A DEAL!,” Trump said.
The president warned Iran that a possible attack would be worse than the bombing campaign he ordered last June on the Islamic Republic’s nuclear facilities.
“The next attack will be far worse! Don’t make that happen again,” he said.
