From Washington Examiner: Oil prices climbed steeply on Friday after President Donald Trump threatened Iran by saying an “armada” was moving to a position from which it could carry out a strike on the Islamic Republic.
Brent crude futures for March rose $1.53, or 2.3%, to $65.59 per barrel. U.S. West Texas Intermediate crude was up $1.46, or 2.4%, at $60.82 per barrel.
On his way back from the World Economic Forum in Davos, Switzerland, Trump said the United States has several ships heading toward Iran but that he hoped they would not need to be used. Tensions have risen between the two countries over a severe crackdown on protests in Iran.
“We have a lot of ships going that direction, just in case. … I’d rather not see anything happen, but we’re watching them very closely,” Trump said during a press gaggle aboard Air Force One.
Trump said Iran had been planning the execution of “837” people before his threats stopped them.
“I said, ‘If you hang those people, you’re going to be hit harder than you’ve ever been hit,’” Trump said regarding warnings he issued to Iran over the treatment of protesters. “’It’ll make what we did to your Iran nuclear look like peanuts.’ An hour before this horrible thing was going to take place, they canceled it.”
“We have an armada … heading in that direction, and maybe we won’t have to use it,” he added.
Trump says US ‘armada’ heading toward Iran https://t.co/CauDjObz1W pic.twitter.com/CTH4Lzg2wS
— Reuters (@Reuters) January 23, 2026
Read more at Washington Examiner
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