US President Donald Trump has sparked fears of renewed war and instability in key oil hubs after making comments that the US could strike Iran tonight. Speaking at a North Atlantic Treaty Organization summit in Türkiye, Trump said, “We’ll probably hit them hard tonight.”
He added that the goal of the war is to ensure Tehran never acquires a nuclear weapon, stating that Iran has cheated, lied and killed people for 47 years.
Trump also left open the possibility of strikes on Iran’s core infrastructure, saying the US would remove Iran’s electricity and water infrastructure if necessary. He added that he would prefer not to do so, but would if needed.
The comments have triggered a flight to safety, with the rise in gold prices and surge in the VIX consistent with risk aversion. If tensions ease, the crypto market's losses are expected to narrow; however, if additional airstrikes materialize, the crypto market's decline is projected to accelerate.