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U.S. President Donald Trump’s warning that a U.S. “armada” is heading toward Iran has deepened concern of potential military action in the Middle East, pushing oil prices higher amid fears of supply disruption.
“We’re watching Iran,” Trump told reporters on Air Force One on Thursday. “You know we have a lot of ships going in that direction just in case. We have a big flotilla going in that direction and we’ll see what happens.”
The U.S. president also repeated his push for Tehran not to restart its nuclear program, echoing comments made to CNBC at the World Economic Forum earlier in the week.
Oil prices, which fell around 2% in the previous session, were trading higher on Friday morning.
