Trump Eyes Long-Term Control of Iranian Oil Amid Ongoing Conflict
US President Donald Trump suggested on Sunday that his country might stay in Iran and 'keep the oil' after the upcoming midterm elections. He drew parallels to a recent US oil deal with Venezuela, where the US purchases 20% of its oil at production cost to fill the US Strategic Petroleum Reserve.
The conflict between the US and Iran has resulted in soaring oil prices, with the average gas price in the US reaching $4.31. Trump assured that prices would 'drop like a rock' once the conflict concludes.
However, the US military has indicated it is not ready to escort oil ships through the Strait of Hormuz, which Iran has blocked, further escalating tensions and fueling concerns over the legality of controlling another country's natural resources under international law.