Trump Predicts Oil Price Drop After Iran Nuclear Threat is Eliminated

Former US President Donald Trump has stated that oil prices will fall rapidly once the "nuclear threat" from Iran is eliminated. He made this declaration in a post on his social media platform, Truth Social.

"Short-term oil prices, which will quickly fall when the nuclear threat from Iran is eliminated, are a very small price to pay for the security of the United States and the entire world," Trump wrote.

The statement comes amid significant volatility in global energy markets. On Monday, the price of Brent crude oil futures for May delivery exceeded $110 per barrel at the opening of trading. This marks the first time since July 2022 that a barrel of Brent has surpassed this threshold.

As of 03:58 Kazakhstan time, the benchmark was at $108.62, representing an increase of 17.19 percent compared to the previous closing price.

The surge in prices coincides with reports from traders indicating that the oil sector is facing one of its most severe crises in history. Many countries in the Middle East are either reducing production or shutting down fields entirely.

The escalation of regional conflict has also severely disrupted shipping through the Strait of Hormuz, a critical chokepoint for global energy supplies. Insurers have begun raising premiums and revising coverage due to heightened security threats.

The Strait of Hormuz is a vital route for supplying crude oil and liquefied natural gas (LNG) from Persian Gulf nations to the world market, accounting for approximately 20 percent of global shipments of oil, petroleum products, and LNG.