Trump Predicts Oil Price Drop After Iran Nuclear Threat Is Neutralized

Former US President Donald Trump has stated that the current surge in oil prices is a justified and minor cost for ensuring global security. He expressed confidence that prices will decline rapidly once the nuclear threat from Iran is addressed.

In a post on his Truth Social platform, Trump framed the situation as a necessary trade-off. "The short-term oil prices, which will fall quickly once the nuclear threat from Iran is eliminated, are a very small price to pay for the safety of the United States and the entire world," he wrote.

The comments come amid significant volatility in energy markets. On Monday, May futures for Brent crude oil opened above $110 per barrel. According to trading data, this marked the first time since July 2022 that a barrel of Brent surpassed the $110 threshold.

By 03:58 Kazakhstan time, the price had adjusted to $108.62 per barrel, still representing a substantial increase of 17.19 percent from the previous closing price.

The market turbulence coincides with reports of a severe crisis in the oil sector. Citing traders, international media reports indicate that many Middle Eastern countries are either reducing production or shutting down fields entirely.

Further compounding supply concerns, shipping through the Strait of Hormuz has nearly halted due to escalating regional conflict. Insurers are raising premiums and revising coverage in response to heightened security threats. This strategic chokepoint is vital for global energy supplies, handling approximately 20 percent of the world's seaborne oil, petroleum products, and liquefied natural gas from Persian Gulf nations.