President Donald Trump criticized Iran for taking too long to negotiate a peace deal, stating they will have to 'pay the price.' He described Iran's military as a 'complete and total mess,' claiming that significant parts of it, including their Navy and Air Force, no longer exist.
Following these remarks, oil prices rose, with West Texas Intermediate crude futures increasing by approximately 1.4% to around $89.37 a barrel, while U.S. stock futures fell. This statement came shortly after Trump suggested that a deal could be reached within 'two or three days' and that the Strait of Hormuz would reopen immediately thereafter.
The backdrop to these comments includes recent U.S. military strikes against Iran in response to the downing of a U.S. Army Apache helicopter, indicating escalating tensions in the region