Trump Predicts Oil Prices Will 'Drop Precipitously' if US Wins Iran War
US President Donald Trump has made a bold prediction that oil prices will plummet if Washington emerges victorious in its war against Iran. The current price of Brent crude is around $98 per barrel, up from $72 before the conflict began.
Trump stated on Truth Social that 'oil prices will drop precipitously' and claimed gasoline prices in the US would eventually fall below $2 a gallon. He also predicted that Iran's attempts to develop nuclear capabilities would be thwarted, saying 'it will all happen quickly, and Iran will never have a Nuclear Weapon.'
The Strait of Hormuz, through which 20% of global oil is transported, has been shut by Iran as part of its war against the US and Israel. The US has responded with a naval blockade on Iranian ports, which Trump estimates costs Iran $500 million per day.