US President Donald Trump has said the conflict involving Iran will end soon, either through an agreement or military action, and predicted that oil prices will fall sharply once the war ends. Trump also reiterated that Iran will never be allowed to acquire nuclear weapons.
Trump said oil prices could return to pre-conflict levels after the fighting ends and could even fall below those levels. His comments came as disruptions linked to the Iran conflict continue to affect global energy markets.
Trump said the Iran issue would be resolved soon and that oil prices would “drop like a rock” once the conflict ends.
He said prices could return to levels seen before the conflict and potentially fall even further. Trump also said Iran was facing a difficult situation and suggested that the conflict would soon produce what he described as good news.
The president said the Iranian leadership, navy, air force and economy had been devastated. He also claimed that inflation in Iran had exceeded 300 percent.
US rules out nuclear weapons for Iran
Trump again said Tehran would never acquire nuclear weapons, making the issue a central part of his comments about the conflict. He said he did not know who he was dealing with in Iran and argued that a lack of leadership was one reason the dispute remained unresolved.
Trump said the conflict would end “one way or the other” and indicated that the United States remained focused on preventing Iran from obtaining a nuclear weapon.
Europe has major diesel reserves, Trump says
Trump also discussed the global diesel market, saying European countries have significant stocks of diesel. He said Europe could play an important role in supplying diesel to the global market and described US-Europe relations as excellent. Trump added that Europe was ready to cooperate in the international energy market.
The comments come as diesel supplies and prices remain under pressure amid disruptions linked to the Iran conflict. The G7 has since agreed to release 100 million barrels of oil and refined fuel products, including substantial diesel supplies, in an effort to ease market pressures.
US will not ban diesel exports
Trump said the United States would not impose a ban on diesel exports, despite discussions over measures to ease domestic fuel prices.
He said the US and Europe would both play pivotal roles in the global diesel market. Trump also indicated that European reserves could be used to help address fuel-price pressures.
Trump said the United States is sourcing billions of dollars’ worth of oil from Venezuela and plans to increase its strategic reserves. He said the administration is working with the Venezuelan government and that US oil reserves would soon be filled.
Trump also claimed that the United States is prospering, while accusing what he called the “fake media” of failing to show the country’s economic performance. He further claimed that unemployment and poverty in the US are at an all-time low.
