Donald Trump tells Iran 'clock is ticking' as oil prices jump again due to uncertainty | BBC News
May 18, 2026 23:53
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Uitsluitend tonen
0:09
President Trump has again threatened
0:10
Iran, demanding Tehran act quickly to
0:12
agree a peace deal amid stalled
0:14
negotiations.
0:16
Writing on social media, Donald Trump
0:18
said the clock was ticking and the
0:20
Iranians should move fast or nothing
0:23
will be left of them. Time is of the
0:25
essence. Well, the message came as the
0:27
president was due to speak with Israeli
0:29
Prime Minister Benjamin Netanyahu on
0:31
Sunday. Iranian media meanwhile reported
0:33
the US has failed to make any concrete
0:36
concessions in its response to Tehran's
0:38
latest proposal to end the conflict.
0:41
Our North America correspondent Joel
0:43
Gunter has more.
0:44
There is a sense that negotiations
0:46
between Iran and America are now very
0:49
much at a standstill. The two sides have
0:51
been passing these memos essentially
0:54
back and forth trying to find some
0:57
common ground for negotiations but
0:59
making seemingly no progress. President
1:02
Trump said that he had ripped up the
1:04
latest Iranian offer after reading just
1:07
one line. And the Iranian state media
1:10
reported today that the latest US offer
1:14
had contained no serious concessions.
1:18
Now we have this threat from President
1:19
Trump to wipe out Iran.
1:22
It echoes that terrible threat he made
1:25
last month to wipe out the country's
1:27
entire civilization.
1:30
And there are reports that both the US
1:32
and Israel are preparing new attack
1:35
plans. And we saw this morning a drone
1:38
strike at a nuclear facility in the UAE.
1:42
No radiation risk apparently and no one
1:45
blamed but certainly contributing to a
1:48
sense of rising tensions.
1:51
Now President Trump has made these kind
1:53
of threats before of course and then
1:56
back down.
1:57
But it reflects a really serious and
2:00
apparently growing frustration that he
2:02
has been unable to extricate himself
2:05
from this unfinished and unpopular war
2:09
with anything he can really sell back
2:11
home as a win.
2:13
And
2:14
there is also no sense at the moment
2:17
that the economic hardship for ordinary
2:19
Americans is going away.
2:23
Thanks to Joel for that. Now the price
2:24
of oil remains elevated. International
2:27
benchmark crude futures priced now at
2:30
around $111 a barrel. Something that's
2:32
being felt in economies right around the
2:34
world, of course.
2:35
Rising concerns in energy markets as the
2:38
summer season with its elevated fuel
2:40
demands approaches. Sally Bundock is
2:42
with me here. Hi Sally. So what do we
2:45
read into this current price?
2:47
Well, I mean it's just gone below 111
2:50
actually. So we basically saw the price
2:52
of oil spike a little up some 2% in
2:55
overnight trading following that post on
2:58
social media put there by President
3:00
Trump because the concern is that the
3:02
stalemate continues between Washington
3:05
and Tehran. There is no progress and
3:08
once again the president is putting out
3:10
some very bold warnings to Iran. And all
3:15
the mute music that we're getting in
3:17
financial markets is that that we're
3:19
stuck. The Strait of Hormuz is shut and
3:22
therefore oil is not going to be flowing
3:24
anytime soon and that's a real concern
3:26
and therefore we see the price of oil go
3:28
up. Interestingly, we've got G7 finance
3:31
ministers gathering very soon today in
3:34
Paris. We can bring you some live
3:35
pictures now of preparations for that.
3:37
We've seen Christine Lagarde arrive
3:39
already. She's the head of the European
3:41
Central Bank. We've seen France's
3:43
finance ministers speaking to the press.
3:46
They're the hosts. So it's Central Bank
3:47
governors and finance ministers and
3:50
they're going to be talking about this
3:51
very problem. But the the strait is shut
3:54
for all intents and purposes and that
3:56
has inflationary pressure on their
3:58
economies but all all economies
4:00
globally. And what can they do about it
4:02
though? They'll be there talking about
4:03
it. What levers can they pull?
4:04
>> Well, exactly, Lewis. At the end of the
4:06
day, they can't reopen that strait. If
4:08
anybody could, President Trump would
4:10
have tried that one already. Um
4:13
what they're talking about is, okay,
4:14
what can we do if this is even more
4:17
prolonged than we expect? What emergency
4:20
measures can we put in place? What
4:22
reserves have we got available to us?
4:25
And and what can we do to support
4:27
households and businesses in the
4:28
meantime? And as far as Rachel Reeves is
4:30
concerned, she already promised last
4:32
week she'd be announcing something this
4:34
week for help for households and
4:39
businesses. But I mean, inventories
4:41
around the world are getting lower and
4:42
lower with every day that goes by. And
4:44
for some economies around the world,
4:46
certainly in Southeast Asia, I mean,
4:48
they're net oil importers. They are
4:51
really feeling the pain at the moment.
4:53
We'll have a lot more on this in
4:55
business. Sally, thank you very much for
4:57
that.
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