Trump Floats Idea to 'Stay and Keep the Oil' in Iran Like Venezuela Deal

President Trump suggested on Sunday that the US could 'stay and keep the oil' in Iran, drawing parallels to a major oil deal struck with Venezuela. Speaking from Doonbeg, Ireland, Trump stated that the conflict with Iran will 'end after the midterm' elections, adding that the Iranian regime is 'calling constantly' for a deal.

The president noted that the US could remain in Iran and extract its oil reserves, much like it has done with Venezuela. This comes on the heels of a deal signed between the Trump administration and Venezuelan interim President Delcy Rodríguez, which aims to develop 17 strategic oilfields with a production target of over 1.5 million barrels per day.

Trump's comments come as Iran's shutdown of the Strait of Hormuz has contributed significantly to rising gas prices in the US, with the average price hitting $4.31 per gallon on Sunday. This is more than $1.10 higher than last year's average, according to data from AAA.