02.04.2026 07:30
U.S. President Donald Trump's statement that "we will strike hard in 2-3 weeks" has raised tensions in the war. On the 34th day of the conflict, while a message was given that military operations would continue, global markets reacted sharply. Brent crude oil rose to $107, while risks in the Strait of Hormuz pushed prices higher. Gold fell below $4,700, revealing the volatility in the markets.
U.S. President Donald Trump escalated tensions in his latest statements regarding the ongoing war with Iran. In his address to the nation, Trump stated that operations are proceeding as planned, saying, “We will complete all military targets in Iran in a short time. In the next 2-3 weeks, we will hit them hard and take them back to the Stone Age.”
TENSION ESCALATES ON THE 34TH DAY OF THE WAR
As the war enters its 34th day, following the attacks initiated by the U.S. and Israel on February 28, military activity in the region continues to increase. While Trump claims that Iran's military capacity has been significantly weakened, he emphasized that operations are not yet complete and new targets are on the agenda. The statements particularly conveyed that attacks on missile systems and nuclear infrastructure will continue.
OIL SOARS, GOLD RETREATS
Trump's harsh remarks were immediately reflected in global markets. The price of Brent crude oil surpassed the psychological barrier of $100 again, rising to $107. Experts indicate that the increasing risks in the Strait of Hormuz have heightened concerns about oil supply and pushed prices up. On the other hand, a notable retreat was observed in gold prices, which are seen as a safe haven. The price of gold fell below $4,700, reflecting a change in investors' risk appetite.
STRAIT OF HORMUZ AND ENERGY TENSION
Iran's maneuvers in the Strait of Hormuz have become one of the most critical issues in global energy trade. Any potential disruption along this route, through which a significant portion of the world's oil transportation passes, directly affects prices. The U.S. administration is sending a message that it will be less affected by this crisis by emphasizing its own energy production capacity.
UNCERTAINTY IN MARKETS INCREASES
Analysts express that if the war prolongs and new military steps are taken, the rise in oil prices may continue, while fluctuations in gold and other commodities will persist. Global markets are focused on new statements from Washington and developments on the ground.