Trump Vows To “Take Oil” As Middle East Conflict Escalates

US President Donald Trump has stated he wants to “take the oil” in Iran, raising tensions as the conflict between the US, Israel, and Iran passed the one-month mark on Monday, March 30, 2026. In comments to US media, President Trump also suggested the US could “take Kharg Island,” a critical hub for Iranian oil exports.

The remarks come amid reports that the White House is considering a weeks-long ground operation in the Middle East. Tehran has threatened to retaliate if US forces are deployed for such an operation. Despite the escalating rhetoric, reports indicate that indirect US-Iran talks via Pakistani emissaries were progressing well, according to The Guardian.

Military Developments and Casualties

On the ground, the conflict continues to expand. Israeli Prime Minister Benjamin Netanyahu said the Israeli Defense Forces would expand their control of territory in southern Lebanon. Meanwhile, the Israeli military reported on Monday, March 30, 2026, that its air defenses were responding to missiles launched from Iran toward Israeli territory. Reuters reported that Israel was attacking regime infrastructure throughout Tehran, and power outages were subsequently reported in the Iranian capital following attacks on electricity industry facilities.

President Trump posted on Truth Social on Monday, March 30, 2026, claiming that “targets have been taken out and destroyed” in Iran. He wrote, “Big day in Iran,” adding that “Many long sought after targets have been taken out and destroyed by our GREAT MILITARY, the finest and most lethal in the World.” It remains unclear what specific targets the President was referring to in the post.

The human cost of the widening conflict was highlighted by the death of a United Nations Interim Force Lebanon (UNIFIL) peacekeeper. Indonesia confirmed on Monday, March 30, 2026, that one of its peacekeepers was killed in Lebanon after a projectile hit a UN position near the village of Adchit al-Qusayr. The Indonesian foreign ministry stated that indirect artillery fire killed the soldier and injured three others. UN Secretary-General António Guterres condemned the death, calling on all parties to uphold their obligations under international law to ensure the safety of UN personnel.

Violence also spread to the Gulf, where an Indian worker was killed following an Iranian attack on a power and desalination plant in Kuwait. Iran has accused the US of plotting a ground attack despite publicly pushing for a negotiated deal.

Australia Halves Fuel Excise

In response to surging fuel prices resulting from the war, the Australian government announced that fuel excise would be halved for the next three months. National cabinet has agreed to a national fuel security plan to mitigate the fallout of the energy crisis.

Prime Minister Anthony Albanese warned service stations against using the excise cut to increase profits. “My message is simple: you need to do the right thing and not just on a voluntary basis. The ACCC will make sure that happens,” Mr Albanese said. Treasurer Jim Chalmers added that the consumer watchdog would “come down on you like a ton of bricks.” Mr Chalmers confirmed he had signed a letter to ensure changes to the fuel excise were passed onto consumers when they came into effect on Wednesday.

Energy Minister Chris Bowen provided an update on Australia’s fuel reserves as of Monday, March 30, 2026:

• 39 days worth of petrol
• 30 days of diesel
• 30 days of jet fuel

Mr Bowen noted that refiners and importers are delivering fuel to regional Australia at record levels. He cited Viva, the refinery in Geelong, which advised that deliveries to regional Australia in the last week were 55 per cent higher than normal.

Regarding the economic impact, Treasurer Jim Chalmers addressed questions about inflation. When asked if inflation could reach as high as 10 per cent, Mr Chalmers said he had not seen a number that high but confirmed his department’s modeling that it could reach 5 per cent was a conservative estimate. He noted that budget deliberations were ongoing due to global economic uncertainty.

Regional Energy Crisis

The conflict’s repercussions on energy supplies are being felt across the region and the Pacific. The Egyptian government enacted new nationwide closing times over the weekend for stores, restaurants, and cafes to conserve oil-powered electricity. The measure interferes with businesses that usually operate nonstop, threatening Cairo’s identity as a city that never sleeps. Egypt is not a party to the conflict but is impacted by higher oil prices and disrupted shipping routes.

In the Pacific, the nation of Tuvalu ordered all government staff to work from home on Monday, March 30, 2026, to assess the country’s electricity capacity. The nation draws about 95 per cent of its electricity from diesel-powered generators. The Tuvalu government advised workers to use fans instead of air conditioning to conserve electricity as the price of diesel continues to soar worldwide. With a population of about 11,000, Tuvalu is the first country in the region to introduce work-from-home advice due to the crisis.

Other Pacific governments are bracing for cost increases as pre-paid diesel contracts expire. The government of Solomon Islands, which gets about 90 per cent of its power from diesel generation, expects a huge jump in power costs and potential power cuts when its pre-paid diesel stockpiles run out in May.

Diplomatic and Strategic Claims

President Trump also made claims regarding maritime traffic in the Strait of Hormuz. He told the Financial Times that Iran’s parliament speaker, Mohammad Bagher Qalibaf, had authorized the passage of oil tankers through the strait. “They gave us 10 Pakistani-flagged tankers,” President Trump said. “Now they’re giving 20 and the 20 have already started and they’re going right up the middle of the Strait.”

Prime Minister Albanese expressed a desire for more clarity regarding the objectives of the US in the Middle East. “I want to see more certainty in what the objectives of the war are, and I want to see a de-escalation,” Mr Albanese said. He noted that while stopping Iran from getting a nuclear weapon and degrading its military capacity appeared to be achieved, regime change remained a difficult objective. “I think that clearly history tells us that regime change imposed from outside is very difficult,” he said.