Trump Weighs Whether to End Iran War or Let It 'Wither,' Says US Could Take All of Iran's Oil
Key Takeaways
- •Trump framed the decision on Iran as whether to conclude the war swiftly or allow it to fade, while claiming the United States could seize the country's oil.
- •Iran's role as a founding OPEC member holding some of the world's largest proven crude reserves means any shift in the conflict is closely tracked for oil supply implications.
- •WTI crude remained up $2.82 at $102.27, roughly 40 cents below the day's highs, even as some bids emerged in stocks.
- •Trump said the United States is close to a trade deal with Mexico and that Canada is working hard to reach an agreement.
- •Trump said he would speak with Elon Musk if Starlink service for Ukraine is not fixed, adding that he had not yet spoken with him.
US President Donald Trump said the central question in the conflict with Iran is whether the United States should bring the war to a rapid conclusion or allow it to die down on its own, arguing that Washington could "take all of the oil in Iran."
In remarks published on October 23, Trump revisited themes he has emphasized for months regarding Iran, but the comments drew close attention as markets watched for signs of a possible escalation over the weekend, according to investingLive. Iran's oil is a large part of why the remarks matter to traders: the country is a founding member of OPEC and holds some of the world's largest proven crude reserves, so any shift in how the conflict develops is closely tracked for potential supply implications.
"Do we want to finish it or let it wither is the question," Trump said. "We could take all of the oil in Iran. We could end Iran war very quickly."
The report suggested the choice of wording offered a hint about his leanings: "I don't think you use the word 'wither' if that's the option you're leaning towards."
Market Reaction
Despite some bids emerging in stocks, WTI crude — the benchmark grade for US oil — remained up $2.82 at $102.27, about 40 cents from the highs of the day, per the report.
Other Comments
Trump also addressed a range of other topics during his remarks:
- Mexico: The United States is close to a trade deal with Mexico, one of the largest US trading partners.
- Canada: Canada — among the largest US trading partners — is "working hard" to make a deal with the United States.
- UK: Trump said he discussed opening up North Sea drilling with the UK, where new oil and gas licensing has been a contested energy-policy issue. His call with the UK on October 23 also included some discussion of Ukraine and Iran.
- Starlink: On Starlink, Trump said that if the service is not fixed for Ukraine, he will talk to Elon Musk. He added that he has not spoken to Musk. Starlink's satellite internet service has been widely used in Ukraine since Russia's 2022 invasion.
Source: investingLive
