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Iranian President Masoud Pezeshkian warned on Sunday that any attack on Supreme Leader Ali Khamenei would be considered a declaration of "all-out war" against the Iranian nation, following a sharp exchange of rhetoric with U.S. President Donald Trump. Pezeshkian's comments, posted on social media platform X, come amid heightened tensions after Trump told Politico on Saturday that it was "time to look for new leadership in Iran." "Any attack on our great leader will be tantamount to an all-out war against the Iranian nation," Pezeshkian wrote.

Irans biggest risk to global oil supply may not be war, but labour unrest in its oil industry. While fears of US military action have eased, economic stress has raised the risk of strikes, which markets often overlook but have historically caused major production disruptions.