Trump Warns Iran Over Reported Nuclear Site Activity as Hormuz Tensions Jolt Oil Markets

Huo Xing Finance reported that on Sept. 9 local time, U.S. President Donald Trump warned Iran against any further work at the suspected nuclear site known as "Pickaxe Mountain," saying Washington would respond "very forcefully" if activity continues. Trump said the United States has observed recent "activity" at the location. New satellite-image analysis from the Center for Strategic and International Studies (CSIS) indicates road traffic at Pickaxe Mountain has hit an all-time high this year, alongside a visible pickup in construction. CSIS assesses the site may have moved from underground excavation to interior buildout and strengthening of its perimeter. The location sits about 2 kilometers from the heavily damaged Natanz nuclear facility, though CSIS said it has not been able to confirm whether Iran has transferred nuclear equipment such as centrifuges to the site. At the same time, tensions around the Strait of Hormuz are intensifying. Iran said it fired ballistic missiles at a U.S. military base in Jordan and attacked 10 vessels near the Strait. U.S. Central Command said it destroyed five Iranian oil tankers after two ballistic missile attacks by Iran's Islamic Revolutionary Guard Corps on U.S. warships. The Strait of Hormuz handles about 20% of global oil shipments, and the latest round of strikes has heightened fears of supply disruptions. Brent crude briefly climbed above $100 a barrel and was last trading at $99.19. Trump also said a U.S.-Iran war may not end until after the November midterm elections, adding that Iran "cannot hold out much longer."