Donald Trump, the President of the United States, said that once the ongoing conflict with the Islamic Republic of Iran comes to an end, global oil prices will decline significantly.
Trump added: “We move millions of barrels of oil through the Strait of Hormuz every night. Today, I am announcing this for the first time. Now that they are aware of it, I can talk about it.”
He said that some analysts had predicted the stock market could fall by as much as 25 percent following the U.S. strikes, but according to him, preventing the Islamic Republic of Iran from obtaining nuclear weapons “was worth the cost.”
The U.S. president also stated that he had been concerned oil prices might rise to $250 per barrel, but said that crude oil is currently trading at around $85 per barrel.
Trump emphasized that the United States’ actions were aimed at limiting Iran’s nuclear program and safeguarding regional security.
Writer:Saeed Sameer
