Oil prices climbed sharply after former US President Donald Trump stated the conflict with Iran was proceeding as intended, easing earlier concerns over potential supply disruptions. Brent crude futures rose 2.3% to $85.48 per barrel, while West Texas Intermediate increased 2.1% to $81.29. Trump's remarks followed reports of a drone strike on an Israeli-linked vessel in the Red Sea, which Iran-backed Houthi rebels claimed responsibility for. The attack occurred near Yemen's coast, heightening tensions in a key shipping corridor. Analysts noted the price surge reflected market expectations that regional instability would not escalate further, despite the incident. Trump, speaking at a private event in Florida, asserted that US-led efforts to contain Iran were working, adding that Iran's military capabilities were being "systematically degraded." Earlier this week, the US and UK conducted airstrikes against Houthi positions in Yemen, targeting missile and drone sites used in attacks on commercial ships. The strikes came after months of Houthi threats to disrupt maritime traffic in protest of Israel's actions in Gaza. Energy markets had already been volatile due to fears of wider conflict in the Middle East, a region responsible for nearly a third of global oil production. The latest developments suggest traders are betting on a contained crisis rather than an all-out regional war. OPEC+, which includes major producers like Saudi Arabia and Russia, has yet to comment on the price movement. Traders will monitor whether the upward trend continues or stabilizes in the coming days.
When Trump says Iran's war is "going to plan," he isn't describing a victory—he's admitting a stalemate that keeps oil markets on edge. The Houthis' Red Sea strike proves Iran's proxies still hit where it hurts, while US strikes only prove the conflict is now a permanent fixture of global trade. For Nigeria, Africa's largest oil producer, this means no relief from high prices at the pump, even if the White House calls it containment. The real question isn't whether prices will rise, but how long Africa's economies can keep absorbing the cost of a war no one dares to end.
