Trump orders a fresh attack on Iran; WTI tops $86 after report that energy infrastructure is being weighed

The Wall Street Journal reported on Friday, 31 July 2026 (9 Mordad 1405), citing US officials, that President Donald Trump has ordered the US military to carry out a fresh attack on Iran as soon as this weekend. According to the report, the strikes are intended to press Tehran into accepting Washington's terms in the ceasefire negotiations.

Speaking the same day at a Cabinet meeting at Camp David, Trump was asked by reporters what Tehran can expect over the next four weeks and said: «We'll be hitting them very hard, and at some point they'll say we just can't take it anymore.» He added that he was losing faith in the Iranian side. White House Press Secretary Karoline Leavitt did not directly address the reports of an imminent assault, saying only that Iran «will continue to pay until they come to the table in a meaningful way». CBS reported separately that striking energy infrastructure, including oil refineries and power plants, is among the options under consideration.

The market reacted immediately: West Texas Intermediate crude rose above $86 a barrel in post settlement trading on Friday afternoon, 9 Mordad, following the CBS report. The current war, which began on 9 Esfand 1404 (28 February 2026) with US and Israeli air strikes, has been accompanied by Iran's effective closure of the Strait of Hormuz, a waterway through which a large share of global oil, gas and fertiliser shipments passes. Tasnim news agency, citing an Iranian official, has said comprehensive plans are in place to respond to any attack.