Iran live updates: 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

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

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

The speaker of the Iranian parliament, Mohammad Bagher Ghalibaf, posted to X on Monday in response to Secretary of Defense Pete Hegseth's threat to sink Iranian oil tankers if Iran targeted the U.S. Navy.

"It's simple: the oil and gas production chain here is sprawling, accessible, and exposed," Ghalibaf said. "American oil and gas companies across these waters and facilities share that exposure. Strike our assets and you get struck. We've already proven it. Ask the bases that are no longer viable."

-ABC News' Victoria Beaule and Morgan Winsor