CNBC Daily Open: Trump's 'favorite thing' is Iranian oil
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President Trump's tough rhetoric and a build-up of ground troops raise escalation fears and drive risk-averse trade across global markets.
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In this article BP SHELL-NL MAERSK.B-DK 0O76-GB Follow your favorite stocks CREATE FREE ACCOUNT A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026 Planet Labs Pbc | Via Reuters Hello, this is Leonie Kidd writing to you from London. Welcome to another edition of CNBC's Daily Open. Sometimes, two things can be true at the same time. But U.S. President Donald Trump's declaration that he wants to "take Iran's oil," while saying a "peace deal could be made fairly quickly" has left markets seeing the glass half empty in early trading this Monday. The build up of U.S. troops for a potential ground invasion also confuses the news that face-to-face talks could be just days away. A confusing picture for investors, who seem to have chosen to stay broadly risk averse at the start of the week. What you need to know today "My favorite thing is to take the oil in Iran." So says U.S. President Donald Trump, as he outlines a potential escalation in the war with Iran that could involve seizing Iran's energy export hub, Kharg Island. In comments to the Financial Times on Sunday, he compared the action in Iran to the U.S. military operation in Venezuela, but he added that indirect talks with Iran were progressing and that "a deal could be made fairly quickly." These comments come as the Pentagon is reportedly preparing for weeks of ground operations in Iran. Thousands of American soldiers and Marines are arriving in the Middle East, according to The Washington Post , which cited U.S. officials. Together, the reports signal a possible escalation in the Iran war — the fallout of which has already rattled markets and raised fears of broader supply chain disruptions and higher global prices. Oil prices are driving higher once again. On Monday, Yemen's Iran-backed Houthis fired missiles at Israel following a weekend of attacks , marking the first direct involvement in the war. Asia-Pacific markets fell sharply on Monday as the Middle East war entered its ...
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