President Donald Trump has threatened a significant escalation in the ongoing conflict with Iran, vowing to "very heavily" attack a heavily fortified Iranian nuclear facility.

This threat comes amidst a nearly five-month war, with the US completing its tenth consecutive night of bombing and oil prices surging to $91 a barrel. Trump suggested Iran may have moved nuclear weapon components to a deeply buried site known as Pickaxe Mountain in central Iran. "We'll be hitting that area pretty soon, and very heavily," he stated.

The escalation coincides with rising anxieties among oil traders, as transits through the Strait of Hormuz have slowed and global inventories are critically low. Brent crude has risen 25% in July, with warnings of potential spikes to $120 if the strait remains disrupted. The International Energy Agency cautioned against complacency regarding oil security.

Trump previously claimed to have "eradicated" Iran's nuclear program, but the facility at Pickaxe Mountain, a harder target than previously struck sites, remains a concern. The conflict has also seen Iran-backed Houthi rebels impose a maritime embargo against Saudi Arabia, further widening hostilities.