• Trump calls for keeping oil prices down following US attacks on Iran's nuclear sites.
• Concerns rise over potential closure of the Strait of Hormuz by Iran, a vital oil shipping lane.
• Oil prices surged after US strikes, prompting Trump's urgent call for increased domestic production.

U.S. President Donald Trump has issued a clear warning to prevent a surge in oil prices following the recent U.S. strikes on Iranian nuclear facilities. He emphasized this on social media, stating, "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!" This message comes as oil prices have risen close to five-month highs due to fears of supply disruptions after the strikes, which were aimed at facilities in Fordo, Natanz, and Isfahan, according to Newsweek and AA.

Trump is also calling on the Department of Energy to significantly increase domestic oil production, reiterating his "drill, baby, drill" mantra. He believes that higher production could stabilize oil prices and alleviate fears of further disruption. Notably, there are concerns that Iran might retaliate by closing the Strait of Hormuz, a major shipping route for oil, potentially impacting global supply, as highlighted by Business Insider and SCMP.

The escalation in tensions has already led to a noticeable response from the markets, with analysts noting a volatility in oil prices shortly after the U.S. military strikes. Trump’s calls for action come amid fears that if Iran were to proceed with shutting down the Strait of Hormuz, it could lead to increased prices globally, echoing sentiments expressed by market analysts that such a move would be detrimental not just for the region but for economies worldwide. Other officials, including U.S. Vice President JD Vance, have characterized any disruption to the strait's operations as "suicidal" for Iran, indicating the serious repercussions such actions could have, according to AA and SCMP.

In light of these developments, many energy industry analysts remain doubtful about Iran's willingness to fully close the strait, given the potential repercussions to its own economy and the risk of retaliation against its oil shipments. Nonetheless, oil futures have experienced fluctuations as markets try to adapt to the ongoing geopolitical tensions, as reported by Business Insider and SCMP.