Brent Crude Reached $116 a Barrel After Trump's Declaration of Wanting to 'Take Iran's Oil'

The President of the United States, Donald Trump, continues to impact energy markets as the Middle East conflict enters its fifth week. In an interview with the British newspaper, Trump emphasized: 'What I like most is taking Iran's oil, but some fools in the United States say: 'Why are you doing that?'. But they are fools.' 'Maybe we'll take Kharg Island, maybe not. We have many options,' he added, saying that 'that would also mean we'd have to be there [on Kharg Island] for a while.' Crude prices rose again after these statements and remain at their highest level since mid-2022 amid the conflict with Iran. The Brent crude barrel, the European benchmark, rose more than 3% and is trading above $116, while West Texas Intermediate, the US benchmark, advanced 2% and is above $100 after Trump's words. With this advance, 'black gold' is on track to mark a record monthly gain.