Commodities
Trump Predicts Oil Prices Will Drop Once Conflict with Iran Concludes
US President Donald Trump stated that global oil prices will decrease once the conflict with Iran concludes. He made this assertion while departing the White House to attend the Presidents Cup in Chicago.
Tump claimed that a record volume of oil was extracted overnight, surpassing pre-war production levels. 'Oil will come dropping down as soon as Iran gives up, as soon as the war is over, which will be soon,' he said.
He also pointed to broader economic relief for consumers, stating that grocery prices have fallen sharply under his administration. Trump cited record US employment figures, the lowest poverty rate in American history, and peak per-capita income levels as indicators of a strong economy.