U.S. President Donald Trump said he is "close" to ordering fresh and massive military strikes on Iran, signalling the possibility of a major escalation in the Middle East that could further disrupt global energy markets and stoke inflationary pressures worldwide.
Speaking to Axios on Thursday, Trump said he was considering launching attacks "bigger than ever before," but stressed that no final decision had been made.
Trump claimed Israel would "join in two minutes" if asked, though he added that the U.S. was capable of acting alone.
“The Israeli participation could trigger retaliatory action from Iran,” he said.
Trump also said Iran was seeking negotiations but "hasn't received enough pain yet," suggesting diplomatic efforts remain stalled even as the risk of a broader regional conflict continues to rise.
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The remarks come after nearly two weeks of heightened military tensions in the region.
The U.S. has intensified operations aimed at deterring Iran-linked attacks on commercial shipping, while Tehran and its regional allies, including Yemen's Houthi rebels, have continued strikes targeting key maritime routes.
The uncertainty has rattled global commodity markets, with Brent crude on Thursday climbing above the $100-a-barrel mark as investors price in the risk of prolonged supply disruptions.
Concerns have intensified over shipping through the Strait of Hormuz, a critical passage for nearly a fifth of the world's oil trade, and the Bab el-Mandeb Strait, another vital route linking the Red Sea to global markets.
The sustained disruption across these chokepoints could increase freight costs, tighten energy supplies and push up prices of fuel, food and manufactured goods, adding to inflationary pressures already facing major economies.
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