Trump's Iran Deal Statement Sparks Dollar, Oil Price Surges
Translated & summarized from Vesty by baba
U.S. President Donald Trump's declaration that the U.S. "no longer needs an agreement with Iran" caused the dollar to strengthen against the Israeli shekel and boosted global oil prices. The dollar reached 3.20 shekels, and Brent crude futures rose to $94.20 per barrel. Trump also instructed Vice President J.D. Vance to cease negotiations with Iran. The statement followed a report of Vance considering direct talks with Iranian officials.
The story in 6 lines · by baba
- U.S. dollar strengthened against the Israeli shekel to 3.20 shekels after Trump's statement.
- Global oil prices surged, with Brent crude futures reaching $94.20 per barrel.
- President Trump declared the U.S. "no longer needs an agreement with Iran."
- Trump directed Vice President J.D. Vance to cease negotiations with Iran.
- The statement came after a report of Vance considering direct talks with Iranian officials.
- Trump also stated the "war with Iran was necessary."
The U.S. dollar strengthened against the Israeli shekel on November 12, trading at approximately 3.20 shekels, a three-agor increase from the previous day's official rate. The euro also saw gains, reaching 3.54 shekels. Concurrently, global oil prices rose following a new statement from U.S. President Donald Trump declaring that the United States "no longer needs an agreement with Iran." Trump posted on his social media platform, Truth Social, that "We don't need a deal with Iran. Those times are long gone. We have their money, hundreds of billions of dollars, and we have their strait!" He was referring to the Strait of Hormuz. In the same post, Trump instructed Vice President J.D. Vance to "fully focus on fighting corruption and crime in American cities and states run by Democrats" and to cease negotiations with Iran. This statement came a day after a Wall Street Journal report indicated Vance was considering personal talks with a high-ranking Iranian security official. Earlier, oil prices had fallen by over a dollar per barrel in Asian markets amid hopes for diplomatic progress. However, the situation reversed sharply after Trump's announcement. Brent crude oil futures jumped 1.6% to $94.20 per barrel, and U.S. WTI crude rose 1.3% to $87.60 per barrel. Trump also stated, "The war with Iran was necessary, we had no choice." This declaration followed the Republican Party's significant defeat in the U.S. midterm elections just over a week prior, with Vance and other administration officials attributing the Republican failure to the war with Iran.
