Oil prices rise following Trump's comments on potential Iran airstrikes

Oil prices rose by 2.66%, reclaiming the psychological threshold of 100 USD per barrel and maintaining support at the 50-day exponential moving average (EMA 50). The price surge is primarily driven by comments from Donald Trump in a recent interview with TIME magazine.

Trump suggested that the United States might intensify or resume bombing operations in Iran shortly after the congressional midterm elections if negotiations with Tehran fail. The interview also indicated growing tension between Washington and Tel Aviv regarding the management and potential conclusion of the ongoing conflict.

Market sentiment is further influenced by a supply crisis in refined products, particularly naphtha, as winter approaches in the Northern Hemisphere. Additionally, the Trump administration is pressuring European nations, including Germany and France, to release 120 million barrels from emergency reserves. The White House has warned that failure to cooperate could result in a total US oil export ban to protect the domestic market.