Donald Trump predicts oil price drop following Iran conflict

President Donald Trump has made several predictions regarding the ongoing conflict with Iran and its impact on global energy markets. Speaking via Truth Social and to reporters at Joint Base Andrews, Trump asserted that Iran is eager to reach a deal “quickly and badly,” though he noted that the U.S. is currently evaluating whether to engage in negotiations.

Trump predicted that oil prices will drop significantly once the military conflict concludes. While he previously suggested a peace deal was imminent, he later indicated that elevated energy prices resulting from the war are unlikely to fall until “right after” the upcoming midterm elections. He suggested that Iran is attempting to influence the election outcome to install a weaker administration that might allow them to develop nuclear weapons.

Regarding current market conditions, Brent crude futures have traded above $101 per barrel, and U.S. West Texas Intermediate has surpassed $96 per barrel. Trump attributed domestic inflation and price increases to the Biden administration, while maintaining that U.S. actions have successfully prevented Iran from acquiring nuclear capabilities. He also noted that crude supplies continue to transit the Strait of Hormuz and stated that international partners should be expected to reimburse the U.S. for protecting maritime lanes.