'Very Small Price to Pay': Donald Trump Defends Oil Spike During Iran Standoff

Washington: Amid the crisis in the Middle East due to the ongoing war between the US, Israel, and Iran, oil prices surged past $100 a barrel for the first time in nearly four years. US President Donald Trump dismissed concerns regarding global oil prices and said that the short-term spike as a worth trade-off for eliminating Iran's nuclear program. 

What did Trump say?

US President Trump on a social media post on Sunday said that the "short-term" spike is worth the cost if it eliminates Tehran's nuclear threat. 

Amid escalating West Asia tensions, taking to Truth Social, Trump said that oil prices would "drop rapidly" once Iran's nuclear capabilities are destroyed, adding that "only fools would think differently."

The remarks of temporary impact linked to efforts to eliminate Iran’s nuclear threat comes as US military actions against Iran have ignited fears of prolonged energy disruptions. 

"Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace,” US President Donald Trump wrote.

"ONLY FOOLS WOULD THINK DIFFERENTLY!” he argued.

What about oil surge?

Oil prices increased past $100 per barrel for the first time since the Russia-Ukraine war erupted in 2022.

Oil prices surged past $100 a barrel on Sunday for the first time in nearly four years, as escalating conflict in the Middle East fuelled concerns over prolonged disruptions to global energy supplies.

The last time US crude futures traded above $100 per barrel was in June 2022, when prices briefly reached $105.76. Brent crude last crossed the $100 mark a month later, in July 2022, when it hit $104 a barrel.