Former President Trump Calls Recent Oil Price Surge Temporary, States Cost is Worth Securing Global Peace
WASHINGTON – Former President Donald Trump stated on March 9, 2026, that the recent surge in global oil prices, driven by ongoing conflict in the Middle East, is a short-term effect and a worthwhile price to pay to eliminate the nuclear threat posed by Iran. The comments came as crude oil prices surpassed $100 per barrel, a level not seen in some time, reflecting growing concerns about supply disruptions.
Oil prices jumped nearly 20% in early trading Monday, reaching levels not seen since July 2022, as escalating tensions between the U.S., Israel, and Iran fueled fears of tighter supply. The Strait of Hormuz, a critical shipping lane for oil, remains closed due to the conflict. West Texas Intermediate (WTI) crude futures rose 17%, or $15.32, to $106.22 per barrel, while Brent crude increased 15%, or $14.28, to $106, according to reports from CNBC.
In a post on his Truth Social platform, Trump asserted that the price increase is a temporary consequence and anticipates a rapid decline once operations to neutralize Iran’s nuclear capabilities are completed. He further emphasized that the current energy price impact is a “small price to pay” for the safety and peace of the United States and the world. The former president concluded with a strong statement, saying “Only a fool would think otherwise!”
The current conflict began on February 28th, leading to the closure of the strategically crucial Strait of Hormuz and resulting in significant supply constraints and a rapid increase in energy costs. This situation underscores the sensitivity of global energy markets to geopolitical events.
The U.S. Government continues to affirm its commitment to addressing Iran’s nuclear program despite facing economic pressures and a widening scope of instability in the Middle East.
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