Oil prices will fall soon, says Trump

Donald Trump has said that although global oil prices have risen due to ongoing tensions with Iran, the increase is temporary and prices will drop quickly once the nuclear threat from Iran is eliminated.

In a post on the social media platform Truth Social, Trump said that a slight increase in oil prices is not a major issue when it comes to global security. He described it as a small price to pay for ensuring safety.

Amid the escalating tensions surrounding Iran, oil prices in the global market have surged. The price of Brent crude oil has reached around 111 dollars per barrel.

Meanwhile, the price of U.S. crude oil has also climbed above 108 dollars per barrel.

Analysts say the rise in prices is driven by fears of supply disruptions in the Gulf region and concerns over shipping risks through the Strait of Hormuz.