# 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.
- Title: Trump Claims No Iran Deal Needed, Raising Oil Prices
- Summary: 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.
- Keywords: trump, iran, oil prices, strait of hormuz, blockade, brent crude, west texas intermediate, Jalopnik
- Source: Jalopnik — https://jalopnik.com/2315318/trump-claiming-we-dont-need-iran-deal-bad-for-oil-prices
- Author: Collin Woodard
- Published: 2026-11-12T19:57:22+00:00
- Read time: 1 min
- Topics: trump, iran, oil prices, strait of hormuz, blockade, brent crude, west texas intermediate, cars, culture
## 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.
## Key takeaway

Trump's statement that the U.S. doesn't need an Iran deal caused oil prices to rise and stalled peace negotiations.