Trump Tells Oil Companies to Cut Retail Fuel Prices Amid Dropped Crude

US President Donald Trump has urged major oil companies to lower consumer fuel prices, attributing improved conditions for the US energy sector to his administration's policies.

In a statement on Truth Social, Trump praised Chevron Chairman and CEO Mike Wirth, but criticized him for not giving credit to the administration for the company's success.

Trump noted that Chevron had been 'thrown out' of Venezuela previously but was now back, 'far bigger and stronger than ever before', expecting significant profits.

The comments came as global oil prices fell sharply due to renewed optimism over US-Iran diplomacy after Trump canceled a planned military strike on Iran and resumed efforts toward negotiations.