You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Oil Steady As Iran Vows Revenge On The U.S. And Trump Threatens To "Finish The Job" Oil Steady As Iran Vows Revenge On The U.S. And Trump Threatens To "Finish The Job" by Ship & Bunker News Team Monday July 6, 2026 Tweet Follow @shipandbunker Oil production is skyrocketing but a glut is unlikely, one analyst argues: File Image/Pixabay. Global crude recovery growing far quicker than analysts predicted was cited  as the reason for another session of losses on Monday for two key benchmarks; however, remarks made by U.S. president Donald Trump suggested that hostilities – and escalating oil prices – between the U.S. and Iran could easily resume. After Iranians vowed revenge during the funeral of their supreme leader Ayatollah Khamenei , Trump told media that if a peace deal wasn’t reached, Washington would “finish the job” it started months ago, adding that it would completely dismantle the country’s infrastructure “in a small part of an afternoon.” Still, Brent settled down 13 cents at $71.99 per barrel, and West Texas Intermediate settled down 14 cents at $68.55 per barrel. “ There will be more conflict, there will be more trouble Fereidun Fesharaki, chairman emeritus, FGE NexantECA Giovanni Staunovo , analyst at UBS , explained why traders weren’t spooked by the sabre-rattling between the U.S. and the Islamic republic: "The downward move is still influenced by earlier stranded tankers managing to exit ⁠the [ Persian ] Gulf , resulting in an increase in oil on water." Indeed, investors and analysts alike continued to witness oil ramping up elsewhere at an unprecedented rate: having quit its membership with the Organization o