Commodities
Trump Suggests US Could Stay in Iran for Control of Oil Reserves
President Donald Trump suggested that the US could remain in Iran and control its oil reserves as the conflict continues to disrupt energy markets. During a press conference in Ireland, he pointed to Venezuela as a precedent.
The administration has already obtained majority control of more than 65 billion barrels of Venezuela's proven reserves through a private-sector partnership.
Trump claimed that US revenue from Venezuelan oil had already covered the cost of the war, and predicted that gas prices would drop after the midterms if the conflict in Iran ends.