One statement from Trump on Iran crashes oil prices: What President said
Photo: US President Donald Trump (Getty Images)
US President Donald Trump believes the war with Iran is close to ending, claiming that Tehran has no means to resist, according to CBS News and Bloomberg.
What Trump said
"I think the war is very complete, pretty much," the President said.
According to Trump, Iran no longer has a navy, communications, or air forces.
"Their missiles are down to a scatter. Their drones are being blown up all over the place, including their manufacturing of drones. If you look, they have nothing left. There's nothing left in a military sense," he added.
Oil prices plummet
Bloomberg noted that after Trump’s statement, oil prices immediately fell below $90 per barrel.
Earlier in the morning, Brent crude had peaked at $116 per barrel.
Trump is fine with the rise in oil prices
Previously, Trump had said that the sharp increase in oil prices following the start of the US-Israel operation against Iran was a "small price to pay" for security.
The American leader expressed confidence that the recent spike in oil prices is only temporary.
He believes the energy market will stabilize once the Iranian nuclear threat is fully eliminated.
The US-Israel operation has affected some of the world’s largest oil exporters in the Persian Gulf, while Iran blocked the Strait of Hormuz, through which massive amounts of oil are transported by tanker.
