The US president has attempted to quell fears that the military conflict he launched would exacerbate the global energy crisis
The surge in oil prices will not stop the US from waging its war on Iran, President Donald Trump has said, after Brent shot past $100 per barrel on Sunday, marking the biggest daily gain since the start of the Covid-19 pandemic in 2020.
In response to the US and Israeli airstrikes, Iran has closed the Strait of Hormuz and struck tankers attempting to cross the waterway, which serves as a route for about one-fifth of the world’s oil supply. Iraq, the United Arab Emirates, and Kuwait, all major oil producers, have cut output after running out of storage space.
In a Truth Social post on Sunday, Trump downplayed the effects of his war on global trade.
“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!” Trump wrote.
During his reelection campaign, Trump promised voters cheaper gas and no costly wars. However, according to data from the American Automobile Association (AAA), the national average price of regular gasoline has risen by roughly 15% over the past week to about $3.45 per gallon, with some areas reporting increases of nearly 30%.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: rt.com
