Donald Trump said on Sunday that oil prices would 'drop rapidly' once what he called the destruction of Iran's nuclear threat was complete, after crude rose past $100 a barrel as war in the Middle East disrupted supply routes and energy output across the Gulf. In a Truth Social post reported by Mediaite, Donald Trump described the short-term price spike as 'a very small price to pay' for safety and peace, adding, 'ONLY FOOLS WOULD THINK DIFFERENTLY!'
For context, the market shock did not come out of nowhere. The BBC reported last week that oil had already hit a two year high after Qatar's energy minister warned that Gulf oil and gas exporters could be forced to stop production within days if the conflict persisted, with Qatar itself having halted LNG production because of what it described as 'military assaults' on its facilities.
