“Take the oil”: Trump eyes seizing Iran oil to gain trade leverage over China: report

Apr 07, 2026, 4:18 AM ETCrude Oil Futures (CL1:COM), CO1:COMBy : Arundhati Sarkar, SA News Editor Comments As President Donald Trump muses about seizing control of Iran’s oil sector, one potential upside is looming in his thinking: expanding US global energy dominance to gain trade leverage against China, people familiar with the matter told Bloomberg News. Trump Newsletters for Every Investor Get daily, sector-specific newsletters packed with expert insights, fresh ideas, and new opportunities. Subscribe to Newsletters