Oil Spike a ‘Small Price’ to Stop Iran Nukes

In a post on Truth Social, Trump argued that oil prices would “fall precipitously” once Iran’s nuclear capabilities were destroyed, adding that “only fools would think differently.”

Describing this as a small price to pay for American and world security and peace, Trump wrote: “Short-term oil prices that will plummet once the Iranian nuclear threat is eliminated is a very small price to pay for U.S. and World Security and Peace. ONLY FOOLS THINK DIFFERENT!”

Trump’s remarks were aimed at allaying fears after oil prices surpassed $100 per barrel for the first time since the Russia-Ukraine conflict began in 2022, according to CNN Business.

According to CNN Business, investors expressed concerns that the dispute with Iran could lead to long-term restrictions on global oil flows.

The report also stated that oil and gasoline prices have increased rapidly as conflicts with Iran escalate in other countries in West Asia and the Gulf, including attacks on refineries in the region.

It also reported that US oil futures rose 18 percent to nearly $108 per barrel (the highest level since July 19, 2022), while global benchmark Brent futures rose 16 percent to near $108 per barrel.

Rising oil prices have put heavy pressure on stocks in recent days, while traders fear that a prolonged rise in fuel prices could lead to a new surge in inflation and harm the economy, according to CNN Business.

The report stated that Dow futures fell more than 800 points (1.7 percent), while S&P 500 and Nasdaq futures fell 1.6 percent.

The average price of gasoline in the United States on Sunday, following the US military strikes against Iran, reached $3.45 per gallon, up 16 percent from the previous week, according to AAA, CNN Business reported.

The report emphasized that a prolonged rise in oil and gas prices could worsen affordability in the United States and put Trump and his party in a potentially precarious political position ahead of this year’s midterm elections.