• Trump's response to recent UK tanker situation coming through.
  • Trump says will work wit UK on the matter and that Iran is in big trouble now.

Steve Herman, the White House Bureau Chief, has said that President Donald Trump announced that the U.S. will work with the UK on tanker situation. This follows the latest news that Iran has sized a UK tanker that had, according to Iran, turned off its radio communications and ignored warnings. UK Miniters witll be holding a Covra meeting shortly.

  • Iran Guards say they seized a British Oil tanker

"We heard one, we heard two” of Iran seizing oil tankers today. But he declines to say if this crosses a line and how US will respond except to say there’s an agreement US has with the UK on maritime security,"

Steve Herman.

Trump's comments:

  • Iran may have seized two tankers.
  • Iran is nothing but trouble.
  • Goes to show that I was right about Iran.
  • Iran is in big trouble now, the economy is crashing.

Market implications:

The price of oil is subject to a bid on the back of tensions between the UK, US and Iran. Risk-off currencies, such as the CHF and JPY all tend to come under demand as geopolitics turn sour. WTI is up +0.61%. USD/JPY has been capped.