From Jalopnik · Collin Woodard · · 50s
Trump Claims No Iran Deal Needed, Raising Oil Prices
Trump's claim the U.S. doesn't need an Iran deal sparks oil price hikes and delays peace efforts.
In brief
Trump's claim the U.S. doesn't need an Iran deal sparks oil price hikes and delays peace efforts. Trump's statement that the U.S. doesn't need an Iran deal caused oil prices to rise and stalled peace negotiations. Originally reported by Jalopnik.
Trump's Iran Deal Claim
Trump posted on TruthSocial saying the U.S. doesn't need an Iran deal.
“We don't need a deal with Iran. Those days have long since passed. We've got their money, Hundreds of Billions of Dollars, and we've got their Strait! Thank you for your attention to this matter. President DJT.”
Oil Prices Rise
Brent crude prices rose 2.6% to $95.10 a barrel, while west texas intermediate climbed 1.9% to $88.16.
Blockade Cost
The U.S. naval blockade of the strait costs about $14 billion annually.
Trump's Political Focus
Trump shifted focus to political retribution against democrats, delaying iran negotiations.
“I have asked Vice President Vance to focus his complete and total attention on the Massive Corruption and Crime taking place in Democrat run Cities and States throughout the U.S.”
Oil Price Impact
Oil traders worry about continued blockade costs and lack of peace progress.
The essence
Trump's statement that the U.S. doesn't need an Iran deal caused oil prices to rise and stalled peace negotiations.
