Trump says oil prices will fall sharply after war with Iran is won
In a statement on the Social Media platform Truth Social, Trump said oil prices would come down “very quickly” after the war is won. He said petrol for American consumers could fall to about $3 a gallon and might eventually go below $2 a gallon.
The US president also said Iran would not be able to acquire nuclear weapons in the future. His statement comes at a time when the global oil market is under pressure because of the war with Iran and tension in the Strait of Hormuz.
Oil prices have risen worldwide during the recent tension, and concerns about supply remain in the market. The price of Brent crude has risen to near $98 a barrel in recent days.
Trump said the situation would return to normal quickly after the war ends. However, his prediction that petrol would fall below $2 a gallon is a political claim. Whether it comes true will depend on global oil supply, the end of the war and market conditions.
More from World
New Israeli attacks on Iran would be disastrous for global markets: Araghchi
US Vice President writes to Mohsen Rezaei to revive talks with Iran
Erdogan tells Trump Turkiye is seeking diplomatic solutions on Hormuz and Yemen
US weapons left in Afghanistan boosting militants’ capability, says report
US sacks top military planner Lt Gen Brett Sylvia, The Atlantic reports
Iran claims it downed US drone and took control of another in Strait of Hormuz
Attack on Iran one of my best decisions, will do it again if needed: Trump
Netanyahu’s Likud accuses Arab parties of election fraud, seeks investigation
Death toll from Spain train collision passes 60, dozens of injured in critical condition
Mojtaba Khamenei meets Mohsen Rezaei on Strait of Hormuz and terms to end war
Netanyahu and Eisenkot both claim right to form government after deadlocked Israeli election
