President Trump on Monday warned oil-producing nations to keep prices low amid rising global tensions following U.S. airstrikes on Iranian nuclear sites. He also ordered his administration and domestic oil producers to ramp up drilling immediately. “Everyone, keep oil prices down. I’m watching! You’re playing right into the hands of the enemy. Don’t do it!” Trump wrote on Truth Social. He directed the Department of Energy to “DRILL BABY DRILL. And I mean NOW!” stressing that increased production would help control inflation by lowering energy costs across the supply chain. The warning came as fears grew over Iran’s potential retaliation, including the threat of blocking the Strait of Hormuz, a vital channel for about 25% of global oil supply. So far, oil prices have remained stable, with markets hopeful that the situation will de-escalate. White House National Economic Council Director Kevin Hassett told CNBC that global reserves from other producers give Trump “room to adjust” if Iran acts. Wall Street also responded calmly, with stock markets rising to start the week.
On the geopolitical front, Iran reportedly fired six missiles at a U.S. military base in Qatar. Meanwhile, DHS Secretary Kristi Noem issued a nationwide terrorism alert, warning of likely low-level cyberattacks from pro-Iranian actors. The Department of Homeland Security added that threats of domestic terrorism could rise if Iran’s leaders call for violence, noting that prior attacks have been driven by anti-Israel sentiment. The ongoing conflict with Iran continues to pose serious risks to both global energy markets and U.S. homeland security.
