Trump departs G7 summit as Iran-Israel conflict heats up

President Trump interrupted his attendance at the G7 summit to return to Washington DC amid rising tensions between Iran and Israel.

The unexpected departure has fueled speculation about the President's agenda and his administration's response to the developing crisis. Analysts and political observers are perplexed by the President's sudden departure from the summit, especially at a time of escalating geopolitical tensions and with cyber attacks on Iran being attributed to Israel. It's worth noting that Trump's term has been marked by an unprecedented lack of cooperation with allies and a pivot towards more isolationist policies.

What's Next?

The President's departure has ignited concern among allies and critics alike. With the President already in Washington, investors will be keenly awaiting any word on further sanctions or actions against Iran. The crisis is likely to exacerbate the already tense dynamics between Israeli Prime Minister Netanyahu and the Democratic Party, with Congress set to become more aggressive in seeking a resolution. Any further aggression will only intensify the calls for Trump's impeachment proceedings to be restarted.

The Impact on Oil & Gas Markets

Tensions in the Middle East usually translate to volatility in the oil and gas markets, and this situation is no different. With worries about a broadening conflict, oil prices have surged upwards, with Brent crude futures up over 3% on the news. If this situation devolves further, we could see a repeat of the surges we witnessed back in 2021.