Trump's Oil Price Predictions: A Rollercoaster Ride
US President Donald Trump has made several predictions and statements about oil prices during the ongoing Iran war. In February, before the conflict escalated, global crude prices stood at around $72.50 per barrel. However, following the US-led attack on Iranian targets in late February, oil prices surged to a record high of over $120 per barrel in March.
Trump initially downplayed the economic impact of the war, saying that he had expected worse consequences for oil prices and the economy. He even joked about loving inflation, claiming it would fall after the resolution of the conflict.
However, as gas prices continued to rise, Trump's tone shifted. In June, he called on gasoline retailers to lower their prices, while in September, he predicted that oil prices would drop 'precipitously' after the Iran war is won.