Oil continues to rise on Thursday as hostilities between the U.S. and Iran remain elevated, with President Donald Trump claiming he doesn't "know" whether the countries will go back to a full-scale war.
Brent crude, the international benchmark, climbed 0.70% and stood at $78.57 per barrel at 8:02 a.m. ET, while West Texas Intermediate, the U.S. benchmark, gained 0.50% and clocked in at $73.89 at the same time.
Speaking to press aboard Air Force one while returning to the U.S., Trump said that Tehran "badly" wants to deescalate the renewed hostilities. However, such hostilities return, the U.S. would "win it very quickly."
"They have very little left, and they want to make a deal so badly. They called a little while ago. They want to make a deal so badly. I just don't know if they're worthy of making a deal. I don't know that they're going to honor the deal. That's the problem," he added.
The remarks took place after another round of attacks between the countries. Iran retaliated by targeting Kuwait and Bahrain, which host U.S. military bases.
The Kuwaiti army said it sustained material damages and one person was wounded as a result of the attacks but is on stable condition. Overall, Tehran launched one cruise missile, three ballistic missiles and 10 drones, the country added.
Iran, in turn, said that two railway bridges were hit as part of the U.S.'s attacks. One of them connects Tehran with the city of Masshad, where the funeral ceremonies for killed Supreme Leader Ali Khamenei are set to end on Thursday.
"The foreign ministry emphasizes the resolute determination of the brave Iranian nation to defend its territorial integrity, sovereignty, and national security," the country said in a statement following the attacks.
Trump said earlier this week that the ceasefire between the countries is over after the U.S. carried new attacks against the country in retaliation for Tehran's targeting of commercial ships in the Strait of Hormuz.
He went on to describe Iran's leaders as "scum." "They're sick people. They're led by people, and they're vicious, violent people," Trump added, claiming that if Tehran managed to get a nuclear weapon, "they'd use it."
The president then said that he would allow negotiations to continue, but stressed he doesn't "care." "They can talk, but I think they're wasting their time. They're a bunch of lying guys."
