Commodities
Trump Floats Idea of US Control Over Iranian Oil Reserves
US President Donald Trump has hinted that his country may maintain its presence in Iran and control its oil reserves, drawing parallels with a recent deal to take control of Venezuela's vast oil reserves.
In remarks made during his trip to Ireland for golf meetings, Trump stated that the US would ultimately leave Iran unless it decides to stay and keep the oil, similar to the situation in Venezuela. He emphasized that the revenue generated from controlling Venezuela's oil has 'paid for the war many times.'
The president reiterated his expectation that the Iran war will end this year, possibly after midterm elections scheduled for November. Trump also mentioned that the price of gasoline would drop significantly once the conflict ends.