Trump Claims Oil Prices Will Plummet When US Wins War With Iran
President Donald Trump made a bold claim on social media that oil prices will 'drop precipitously' when the US wins its ongoing war with Iran. The statement came as global oil prices reached a six-week high, inching closer to $100 a barrel.
The U.S.-Israeli strikes against Iran have been ongoing since February, with both sides exchanging blows in recent weeks. In August, Trump announced a 'crushing economic operation' aimed at forcing Tehran into submission.
Meanwhile, the Strait of Hormuz has become a key flashpoint between the US and Iran, with tensions running high after the U.S. launched its strikes against Iranian military sites. The region's strategic importance makes it a crucial chokepoint for global oil supplies.
Iran's Supreme National Security Council secretary, Mohsen Rezaei, announced plans to establish a restricted zone outside the Strait of Hormuz in the coming days, which would include ships attempting to cross the waterway. Any vessel entering this zone with the intention of crossing the Strait would be put on a sanctions list.