President Donald Trump for the second time this week has delayed a threat to bomb power plants in Iran, pushing back a possible attack by 10 days until 6 April to provide time for negotiations he claims are ongoing.
Trump last week threatened to "hit and obliterate" those power plants unless Iran fully opened the strait of Hormuz to shipping by 23 March. That day, Trump pushed back the attack by five days, citing progress in talks with Iranian officials he has yet to identify. On Thursday, Trump provided the same justification for another delay.
"As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days," Trump said in a social media post at 4:11pm ET. "Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well."
Nymex WTI crude futures for May delivery plunged by more than $4/bl moments after Trump's post, down to as low as $89.51/bl at 4:12pm ET but rebounded to $93.78/bl as of 5:04pm ET.
Iran's leaders have disputed the claims that Tehran and Washington are negotiating an end of hostilities. They see signs of a concerted campaign of "jawboning" to push down oil prices, creating a stark divergence between futures prices and the physical market.
Trump said the power plant attack will now occur at 8pm ET on 6 April, equivalent to the early morning on 7 April in Tehran.
Earlier in the day, Trump cited recent oil shipments through the strait of Hormuz as a sign that negotiations could bring an end to the energy crisis. Trump has downplayed the extent to which the war has caused energy prices to surge in the US and said he is in a good negotiating position with Iran.
"They're begging to make a deal, not me," Trump said at a cabinet meeting on Thursday.
