US President Donald Trump told the Financial Times he wants to 'take the oil' in Iran and could seize Kharg Island 'easily,' raising the prospect of US forces capturing Iran's main oil export hub. The comments came as 2,500 US Marines arrived in the region and oil prices surged above $115 per barrel.
Foreign ministers from Pakistan, Saudi Arabia, Turkey, and Egypt met in Islamabad to prepare diplomatic groundwork for de-escalation between the US and Iran, as Pakistan positions itself as a potential mediator in the month-long conflict.
Treasury Secretary Scott Bessent announced the US will temporarily allow the sale of Iranian oil shipments already in transit, estimated to add 140 million barrels to the market. The move comes as oil prices hit their highest settlement since July 2022 amid Iran's closure of the Strait of Hormuz during the ongoing US-Israeli conflict with Iran.
