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Trump: 'Cocked & Loaded' for Iran Strike, But in 'No Hurry' After Drone Downing

Martin Baccardax

President Donald Trump said Friday that the U.S. was "cocked and loaded" in preparation for a possible retaliation on Iran, but added he cancelled an imminent airstrike after considering it "not proportionate" to the downing of an unmanned military drone earlier this week. Trump had said that Iran had made a "big mistake" and warned of consequences to follow, but appeared to pull back from executing a military response only hours before U.S. jets were set to take off. Oil prices, which have risen more than 6% this week, were given further support from Energy Department data showing that U.S. crude stocks fell by a bigger-than-expected 3.11 million barrels last week and suggestions that OPEC members will extend their agreement on production cuts, which are taking 1.2 million barrels from the market each day, when cartel members meet early next month in Vienna.