Iran Vows to “End This War”

Iran on Monday vowed to retaliate against the U.S. strikes on Iranian nuclear facilities, claiming the U.S. attacks expand the scope for the Iranian military to respond.“Mr Trump, the gambler, you may start this war, but we will be the ones to end it,” Ebrahim Zolfaqari, a spokesperson for Iran’s Khatam al-Anbiya central military headquarters, said in English at the end of a recorded video statement carried by Reuters.The U.S. bombed this weekend three of Iran’s nuclear sites – Fordow, Natanz, and Isfahan – and warned the Islamic Republic that retaliation against U.S. troops in the region or any other retaliation would be the worst mistake it will make.U.S. President Donald Trump said on Truth Social that “Monumental Damage was done to all Nuclear sites in Iran, as shown by satellite images. Obliteration is an accurate term!”“The biggest damage took place far below ground level. Bullseye!!!” President Trump wrote.Senior military leaders in Iran threatened retaliation against the U.S. strikes, with the Iranian army's chief of staff, Abdolrahim Mousavi, saying the U.S. has opened up the possibility of his forces taking “any action” against American troops and that Iran “will never back down”.U.S. Secretary of State Marco Rubio told Fox Business on Sunday, referring to Iran, that “if they retaliate it’ll be the worst mistake they’ve ever made.”Early on Monday morning in Europe, oil prices weren’t soaring – as initially expected – as the market still weighs and expects what the Iranian retaliation would be.Brent crude could rise all the way to $100 a barrel and more, peaking at $110 per barrel in case Iran closes the Strait of Hormuz, Goldman Sachs said in a new note.Early on Monday, Brent was trading below $80 per barrel.“It's worth noting that the current geopolitical risk premium—now exceeding USD 10 per barrel—cannot be sustained for long without a tangible supply disruption,” analysts at Saxo Bank said in a Monday note.By Tsvetana Paraskova for Oilprice.com