Washington: US President Donald Trump declared on Friday that oil prices are expected to revert to their prior levels, and potentially decline further, following a resolution of the ongoing tensions between Washington and Tehran. Speaking to reporters in the White House garden, Trump emphasized that the diplomatic process regarding Iran would be swift.
“Once the Iran issue is solved, which will not take a long time at all, oil prices will go back to where they were before, and maybe even lower,” Trump said. He expressed confidence that the situation would be addressed quickly, dismissing concerns about prolonged delays in reaching a settlement.
The president also highlighted the role of European nations in stabilizing energy markets. He noted that Europe holds substantial diesel reserves and is prepared to make significant contributions to the global supply. “Europe has a lot of diesel, and they’re going to contribute a lot to the world, and we are too,” he added, suggesting that the current challenges in this sector would be overcome through international cooperation.
These comments come amid heightened volatility in global oil markets, driven by escalating geopolitical friction between the United States and Iran. Investors are closely monitoring developments related to potential disruptions in supply routes through the Strait of Hormuz and the Bab al-Mandab. The markets are also tracking the broader implications of the conflict involving the US, Israel, and Iran, which began on February 28, and its potential impact on inflation and US monetary policy.
