Trump's Oil Price Control Power May Soon Run Out
President Donald Trump has been able to keep oil prices relatively low despite ongoing tensions in the Middle East, but this may not last forever. The energy markets typically favor stability and predictability, yet they have remained steady even as the war between Iran and the US stretches past six months.
The latest development came when Trump called off a planned military strike against Iran in favor of negotiations, saying it would be 'the biggest attacks since World War II.' Crude prices dipped slightly after this announcement, while gas prices remained steady.
Trump has been able to keep retail prices lower than expected by promising a swift end to the conflict. However, he took his criticism of oil companies further on Monday, chastising them for 'making too much money' from global oil shortages caused by the war.