Oil prices jump after Trump says Iran supreme leader 'should be very worried'

Oil prices jump after Trump says Iran supreme leader 'should be very worried'
By: cnbc Posted On: February 04, 2026 View: 41

Tankers docked at the Phillips 66 Freeport Terminal in Freeport, Texas, US, on Friday, Jan. 16, 2026.
Mark Felix | Bloomberg | Getty Images

Oil prices rose Wednesday after President Donald Trump said Iran's Supreme Leader Ayatollah Ali Khamenei "should be very worried."

U.S. crude oil rose $1.93, or 3.05%, to close at $65.14 a barrel. Global benchmark Brent was up $2.13, or 3.16%, to settle at $69.46 a barrel.

"I would say he should be very worried. Yeah, he should be," Trump told NBC News in an interview. "As you know, they're negotiating with us."

The president has threatened to launch strikes on Iran if it doesn't agree to a deal governing its nuclear program. He previously threatened to intervene on the side of protestors who rose up against the Islamic Republic in January, but ultimately backed away from military action.

A conflict with Iran or a collapse of the regime could disrupt crude oil supplies in the Middle East. Iran is an OPEC member and significant oil producer.

But talks between the U.S. and Iran could still de-escalate tensions. Iran Foreign Minister Abbas Araghchi said discussions with the U.S. on the Islamic Republic's nuclear program will take place at 10 a.m. Friday in Muscat, Oman.

The planned discussions were on the verge of collapsing earlier Wednesday after Washington and Tehran couldn't agree on a location and format, according to Axios. Middle Eastern leaders successfully lobbied the U.S. to not walk away from the discussions, two U.S. officials told Axios.

Trump's warning comes after the U.S. military said Tuesday it shot down an Iranian drone that approached the USS Abraham Lincoln aircraft carrier. Iranian gunboats also tried to board a U.S. merchant vessel in the Strait of Hormuz, according to U.S. Central Command.

Iranian media said the drone was conducting routine surevillance that is permitted under international law.

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