Trump Warns US May Expand Iran Strike Targets as War Sends Oil Prices Soaring
President Donald Trump said the United States may expand its list of potential targets in Iran, signaling a possible escalation in the conflict that has already rattled energy markets and drawn in multiple countries.
Trump warns the U.S. could strike additional targets in Iran as the conflict deepens, driving oil above $90, halting Strait of Hormuz shipping, and drawing more nations into the crisis.
The warning came as U.S. and Israeli forces continued coordinated strikes across Iran for the eighth straight day. In an early Saturday social media post, Trump declared that Iran would face heavy attacks and indicated that the campaign would continue until the country either surrendered or collapsed.
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Iran’s leadership quickly responded. President Masoud Pezeshkian insisted that the Islamic Republic would not capitulate while missile launches toward Israel and Gulf states hosting American military bases continued. In a speech, he rejected the idea of unconditional surrender, saying such expectations were unrealistic.
Pezeshkian now serves on a temporary three-member leadership council formed after U.S. and Israeli operations killed Supreme Leader Ayatollah Ali Khamenei on Feb. 28. During his remarks, he said the military had been instructed not to strike any country that was not attacking Iran. He also expressed regret to neighboring nations, referring to them as brothers.
Nevertheless, attacks continued throughout the region. Drones and missiles were launched toward Qatar and Bahrain, while authorities in the United Arab Emirates reported intercepting incoming projectiles. Kuwait responded by cutting oil and refinery output, pointing to what it described as ongoing Iranian aggression.
Saudi Arabia also shot down drones headed toward a key oil field, highlighting the growing risk to energy infrastructure as the confrontation spreads.
Trump later suggested that Washington might target locations and groups in Iran that had not previously been considered. According to the president, such measures were under serious review because of what he described as Iran’s behavior during the conflict. He also argued that Pezeshkian’s apology to neighboring countries came as a result of persistent U.S. and Israeli strikes.
Iranian officials hinted that Azerbaijan may have been part of Pezeshkian’s reference. Earlier in the conflict, Foreign Minister Abbas Araghchi denied reports that Iran fired missiles at the neighboring state.
Within Iran, media outlets interpreted Trump’s message as a potential threat to civilians. So far, however, American and Israeli military operations appear to have focused primarily on government and military facilities instead of large-scale urban bombardment.
Even so, the human toll has grown significantly. Iranian authorities report at least 1,332 deaths since the war began, along with extensive damage across affected areas. The United States has also suffered losses, with six troops killed during the first two days of fighting.
The confrontation began a week ago when the United States and Israel initiated strikes against Iran. Since then, the fighting has disrupted global supply chains, raised concerns about a fresh wave of inflation, and drawn more than a dozen countries into the situation.
International leaders have voiced concern about the consequences of a prolonged conflict. German Chancellor Friedrich Merz warned against an open-ended war that could lead to Iran’s disintegration, spark migration pressures in Europe, and cause long-term economic damage. At the same time, European officials say Saudi Arabia has stepped up direct communication with Tehran to help reduce tensions.
Inside Iran, attention has turned to the question of new leadership. The country’s Assembly of Experts is expected to meet within the next day to select a successor to the late supreme leader. Mojtaba Khamenei, the second-oldest son of the former leader, is considered among the potential candidates.
Economic repercussions are already evident. The Trump administration has attempted to calm fears over rising fuel costs, even as gasoline prices in the United States reached their highest point since September 2024.
Crude oil futures climbed above $90 per barrel by the end of the week, representing a gain of more than $20 compared with the previous Friday and marking the largest weekly percentage jump recorded since the 1980s.
Natural gas markets have also been affected. Prices for liquefied natural gas surged after Qatar shut down a major production facility during the conflict.
At the same time, shipping traffic through the Strait of Hormuz—a vital route for global oil and gas supplies—has nearly stopped. Exporters across the region are scrambling to find alternative routes to maintain deliveries.
Analysts at Goldman Sachs warned that oil could surpass $100 per barrel if the crisis continues without signs of resolution. They also noted that extended disruptions through the strait could push refined fuel prices beyond previous highs seen in 2008 and 2022.
Iran has threatened to attack ships connected to the United States and Israel in the strategic waterway. Meanwhile, Saudi Arabia has begun rerouting millions of barrels of crude oil to a Red Sea port to keep supplies flowing.
Public reaction across the Gulf region has also reflected unease about the conflict. Dubai businessman Khalaf Al Habtoor said on social media that Gulf countries had not chosen the war and should not see their territories turned into battlegrounds.
Back in Washington, Trump met with executives from major defense companies to emphasize the need to increase production of key weapons systems. Following the meeting, he said manufacturers had agreed to quadruple the output of some of the most expensive American military hardware.
The conflict has also prompted defensive measures beyond the Middle East. NATO announced it is strengthening missile defense readiness after an Iranian missile aimed toward Turkish airspace was intercepted earlier in the week.
Israel simultaneously expanded a parallel campaign against Hezbollah. Airstrikes targeted southern suburbs of Beirut while Israeli forces increased their ground presence inside Lebanon. According to Lebanon’s health ministry, at least 120 people have died there.
The war has severely affected aviation as well. More than 27,000 flights to major Middle Eastern hubs have been canceled since the hostilities began, leaving thousands of passengers stranded across the region. Emirates said it hopes to restore its full flight network in the coming days.
