Washington: US President Donald Trump on Monday called for maintaining low oil prices as they surged to nearly five-month highs following recent US strikes on Iranian nuclear facilities. "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT," Trump expressed on social media.

According to Anadolu Agency, the oil markets reacted to the US attacks on Iranian nuclear sites at Fordo, Natanz, and Isfahan, which were ordered by Trump, causing prices to jump due to fears of supply disruption. In response, Trump urged the US Energy Department to increase domestic production, emphasizing urgency with his "DRILL, BABY, DRILL!!! And I mean NOW!!!" directive.

The surge in prices is largely attributed to concerns that Iran might close the Strait of Hormuz, a crucial channel through which approximately 20 million barrels of oil and petroleum products are transported daily, primarily to Asian markets, including China. Iran's parliament has proposed closing the strategic waterway, but the final decision rests with Iran's Supreme National Security Council.

This strait is vital for global oil exports, handling 85% of Iraqi oil exports and a significant portion of Iran's petroleum shipments to China. Some tankers have already rerouted to avoid the strait, though ship traffic continues. US Vice President JD Vance has stated that disrupting traffic in the strait would be "suicidal" for Tehran. Secretary of State Marco Rubio warned that any move by Tehran to close the strait following the recent strikes would have global repercussions, affecting not only the US but also China.