BREAKING NEWS
Advertise with us >

Trump voices concern over oil company profits amid Iran conflict

Trump voices

WASHINGTON:US President Donald Trump said he is concerned about the large profits oil companies are making amid the conflict with Iran, as rising energy prices continue to fuel inflation and create political challenges ahead of the U.S. midterm elections.

Speaking in the Oval Office on Monday, Trump said oil companies were making “a lot of money” from the surge in crude prices and acknowledged that he was uncomfortable with the situation despite being a strong supporter of free-market principles.

US media reported that Trump hopes oil prices will decline before the November midterm elections, with recent political surveys indicating that Democrats could make gains if inflation remains elevated.

The conflict involving Iran has driven global oil prices sharply higher, boosting earnings across the energy sector. On Tuesday, Saudi Aramco reported a 33% increase in second-quarter profit, reflecting the impact of stronger crude prices.

Higher fuel costs have also weighed on American consumers. Since the outbreak of the conflict, the average price of gasoline in the United States has risen by about 37%, adding to inflationary pressures and increasing the political stakes for the White House.

Pentagon says 18 US troops killed, 624 wounded in Iran conflict

Pentagon

WASHINGTON: The Pentagon has updated its casualty figures for the conflict with Iran, reporting that 18 US service members have been killed and 624 wounded since the fighting began, according to newly released Defense Department data.

The Pentagon said it updated its Defense Casualty Analysis System (DCAS), adding more than 140 newly reported wounded personnel and restoring four service members recently killed in Iranian attacks to its casualty database.

According to US media reports, the Pentagon has also introduced a new “Overseas Operations” category in the DCAS to track service members killed or wounded in overseas missions since July 7.

When combined with the latest figures from Operation Epic Fury, the updated data show that 18 U.S. troops have been killed and 624 injured since the conflict with Iran began on Feb. 28, a significant increase from the previously reported total of 482 wounded, according to the reports.

The Pentagon said 11 of the 18 fatalities were members of the U.S. Army, six served in the U.S. Air Force, and one was a member of the U.S. Navy. Among the wounded, 461 were Army personnel, 86 served in the Navy, 58 in the Air Force and 19 in the Marine Corps.

The casualty reporting system came under criticism last week from lawmakers and media organizations after the DCAS database appeared to undercount U.S. casualties despite continued Iranian attacks. The Pentagon said the newly created “Overseas Operations” category includes casualties recorded after July 7, although it does not specify which conflict each casualty is associated with.

The updated database includes the names of troops killed in overseas operations, including three U.S. service members killed in an Iranian attack in Jordan and one soldier killed last week while helping neutralize an Iranian drone in northern Iraq, according to U.S. media reports.

President Trump says US will not rush exit from Iran conflict

President Trump

FLORIDA: US President Donald Trump has stated that the United States will not prematurely withdraw from the ongoing conflict involving Iran, warning that a hasty exit could lead to the issue resurfacing in the future.

According to reports by Reuters, Trump made the remarks while speaking in Florida, saying the US would not leave “without finishing the job” in Iran to avoid facing a similar crisis again in a few years.

He added that if the United States withdrew too quickly, the same problem could re-emerge within three years, stressing the need for what he described as a complete and long-term resolution.

Trump further stated that Washington seeks a proper solution to the Iran conflict and would not accept temporary arrangements or short-term strategies.

Although he did not specify what “finishing the job” entails, he has previously hinted at broader strategic changes, including leadership transitions in Iran.

The former president has also repeatedly described Iran’s current leadership under Supreme Leader Ali Khamenei as a threat, while earlier signaling support for regime change in Tehran.

The remarks come amid ongoing regional tensions and continued debate over the future direction of US policy toward Iran.

Global markets surge after Trump announces exit from Iran conflict

Global markets

KARACHI: Following US President Donald Trump’s announcement to withdraw from the Iran conflict, stock markets in Pakistan and across the world saw a sharp rise today.

The trading session opened on a positive note, with the 100-index climbing 7,461 points to reach 156,204, while the KSE-30 index rose 2,390 points to 47,422.

During trading, the 30-index recorded a 5.02% increase, prompting a temporary 45-minute suspension of trading, which resumed at 1:09 PM.

Trump’s announcement had also boosted Wall Street, with the Dow Jones Industrial Average closing up 2.49% yesterday.

Asian markets followed suit, with Japan’s Nikkei soaring by 9%, and positive trends were observed in Hang Seng, Nifty 50, and European markets.