WASHINGTON, United States: President Donald Trump said Monday the Iran war would end soon and predicted oil prices would “drop like a rock” once the military conflict is over.
Trump made the comments on Truth Social as Brent crude traded above $108 a barrel following fresh disruptions to regional energy supplies.
The U.S. president did not provide a specific timetable for ending the conflict or explain the basis for his oil-price forecast.
Trump also said Iran wants an agreement with Washington and that the United States remains open to engagement. He added, however, that he would decide whether talks proceed.
Read: Saudi Pipeline Outage Threatens 4% of Global Oil Supply
In a separate post, Trump said oil was still moving through the Strait of Hormuz and argued that other countries should reimburse the United States for its role in keeping traffic flowing.
Ship-tracking data showed commodity-vessel traffic through the strait had fallen to single digits per day over the weekend, well below prewar levels.
Read: Middle East Oil Disruption Deepens After New Attacks
Trump’s remarks came as drone attacks forced Saudi Arabia to shut its East-West oil pipeline, adding pressure to regional crude flows and helping push Brent prices higher.
