‘All hell to pay’: Trump threat over Hamas captives stokes fears of higher oil prices for Asia
The US under Trump could take a tougher stance on Iran, which could disrupt oil supplies and push prices up amid hazy outlook, analysts warn
A vow by US president-elect Donald Trump that there will be “all hell to pay” if Hamas fails to release Israeli hostages before his inauguration risks plunging the oil-rich Middle East into a drawn-out conflict, raising fears among analysts that energy-hungry Asian economies could face higher prices.
Hamas-led militants captured more than 250 people during their deadly attack on Israel last year, some of whom are believed to still be alive. US efforts to broker a release have floundered for more than a year even as the outgoing administration of US President Joe Biden makes a final push.
“[If] the hostages are not released prior to January 20, 2025, the date that I proudly assume Office as President of the United States, there will be ALL HELL TO PAY in the Middle East, and for those in charge who perpetrated these atrocities against Humanity,” Trump wrote in a social media post on Monday.
The US approach to the Middle East under Trump is likely to be more aggressive with Iran – a key patron of Hamas – thereby posing the risk of disruption in oil supplies to energy-hungry Asia, though many analysts are holding out higher hopes for a resolution of the conflict over a longer term.
“Trump’s threat is definitely bullish for oil prices in the short term,” said Gnanasekar Thiagarajan, founder of Commtrendz Research. “The US could end up openly supporting Israel.”
Analysts said there was a distinct possibility of the president -elect carrying out his threat.
