Houthi Attacks Undermine Trump's Oil Price Promise
US President Donald Trump's promise of falling oil prices after winning the Iran war has been undermined by recent Houthi attacks on Saudi Arabia. The attacks have exposed the vulnerability of regional energy systems, complicating Trump's efforts to bring down oil prices through coercion.
In a Truth Social post, Trump said that oil prices would fall 'precipitously' when the US wins the Iran war, predicting gasoline at $3 a gallon and eventually below $2. However, the average price of gas in the US is currently over $4 a gallon, posing an acute political problem for Trump ahead of November's midterms.
The recent Houthi attacks on Saudi territory and energy sites have raised concerns about the security of regional shipping routes, particularly the Strait of Hormuz. The Saudi Energy Ministry reported fires at several oil facilities and utilities, temporarily suspending operations. Officials are still assessing the damage.
Maj. Gen. Turki al-Malki, a spokesperson for the Saudi-led coalition, stated that forces 'will take all necessary operational measures to deter the terrorist Houthi militia with utmost resolve.' The attack undercuts an argument made by US Defense Secretary Pete Hegseth, who claimed Houthis were absent from the Iran conflict due to the 'weight of American power.'