Donald Trump claimed on Wednesday that the United States has been secretly taking 'millions of barrels' of oil from Iran during the current conflict, telling reporters at the White House that this undisclosed operation is one reason crude prices are around $85 a barrel rather than '$250.'
Tensions between Washington and Tehran have intensified sharply in recent days. Earlier on Wednesday, via a post on his Truth Social platform, Trump said Iran would 'pay the price' after a US Apache helicopter was reportedly shot down over the Strait of Hormuz. The US then launched strikes against Iranian targets, and global markets have been struggling to price in the risk of a wider confrontation in one of the world's most sensitive energy corridors. Nothing about the alleged oil removal has been independently confirmed, so the claim should be treated with a measure of caution.
