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Iran live updates: Trump says oil prices will drop 'when we WIN the war'

Oil prices hit a six-week high on Monday, nearing $100 a barrel.

President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes targeting military, government and infrastructure sites.

Delegations from the U.S. and Iran entered negotiations in June aimed at a war-ending deal based on a memorandum of understanding signed by both countries.

The U.S. and Iran have nonetheless continued to exchange strikes, with the strategic Strait of Hormuz as the primary flashpoint. Trump said in August that the U.S. would launch a "crushing economic operation" to force Tehran into submission.

3 hours and 36 minutes ago

Houthi attacks on Saudi Arabia wound 73, halt energy operations, officials say

Attacks on Saudi Arabia by Yemen's Houthi rebels wounded at least 73 people and halted operations at some energy facilities on Tuesday, the Saudi-led coalition in Yemen and the Saudi Energy Ministry said.

Fires erupted ‌at a number of energy sites and several people were injured as emergency teams rushed to contain the blazes and assess the damage, the Saudi Energy Ministry said in a statement.

The Iran-backed Houthis attacked the southern cities of Abha, Khamis Mushait, Jazan and Najran, the coalition said in a statement. It described the latest attacks as a "dangerous escalation," vowing to respond.

"The coalition will take all necessary operational measures to deter this terrorist militia and resolutely confront its hostile approach," coalition spokesperson Col. Turki al-Malki said in a statement published on X.

The Saudi Foreign Ministry affirmed the kingdom's right to "take all necessary measures to defend its sovereignty, safeguard its national resources and preserve the security and safety of its citizens and residents on its territory. It will not tolerate any attack targeting its territory or national resources, in accordance with the rules of international law."

-ABC News' Ayat Al-Tawy and Othon Leyva

4:17 AM EDT

Trump says oil prices will drop 'when we WIN the war'

President Donald Trump on Monday claimed that oil prices will "drop precipitously" when the U.S. wins the ongoing war with Iran.

"Oil prices will drop precipitously, like everything else is dropping (but more!), when we WIN the war with Iran," the president wrote in a post to social media. "Three Dollars a gallon, but ultimately, below Two Dollars a gallon. It will all happen quickly, and Iran will never have a Nuclear Weapon. MAGA!"

Trump's post came as oil prices hit a six-week high on Monday, with global prices inching closer to $100 a barrel. U.S. oil was trading at $92.63 up about 1.3% and global oil was trading at $97.31 up more than 1%.

-ABC News' Lauren Peller and Zunaira Zaki

Sep 07, 2026, 3:36 PM EDT

27 killed in 3 days of Israeli strikes in southern Lebanon: Officials

The Lebanese Ministry of Health said on Monday that 27 people have been killed in three days of Israeli strikes across southern Lebanon.

The agency also said that 69 people have been wounded including women, children and paramedics.

-ABC News' Ghazi Balkiz

Sep 07, 2026, 3:27 PM EDT

Iran issues warning to South Korea over potential actions in the Strait

The Iranian Foreign Ministry issued a stark warning to South Korea on Monday amid reports the government is weighting a more active role in the Strait of Hormuz.

"South Korea and other countries know that any participation in America's aggressive and interventionist actions in the region will be considered complicity in overt military aggression, will only complicate the situation, and will certainly not make shipping routes safer," Esmaeil Baqaei, a spokesperson for the ministry, said at a briefing.

"We have not taken an official stance, of course, but we have been in contact appropriately with South Korean officials through our embassy in Seoul, and we publicly warn all countries that they should be careful not to become tools for America's aggressive actions," he continued.

Later on Monday, Baqaei posted a message on X saying ties between the two countries have "consistently developed on the basis of mutual respect" and that no country should "yield to America's pressure and threats."

-ABC News' William Gretsky

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