WASHINGTON: US President Donald Trump on Sunday dismissed the war-related spike in oil prices as a “small price to pay” for removing the threat of Iran’s nuclear program. “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 USA, and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!” he wrote on his Truth Social platform. Oil prices have eclipsed $100 per barrel for the first time in more than three and a half years as the Iran war hinders production and shipping in the Middle East.

WASHINGTON: US President Donald Trump on Sunday dismissed the war-related spike in oil prices as a “small price to pay” for removing the threat of Iran’s nuclear program. “Short…

US Secretary of Energy Chris Wright argued that disruptions would be short-lived. 'Worst case, that's a few weeks. That's not months,' the US energy secretary told CNN. Oil and…

On Sunday, oil prices surpassed the $100-a-barrel milestone for the first time in more than three-and-a-half years

The US president says the prices will fall soon "when the destruction of the Iran nuclear threat is over"

The president's comments come as the prices of both crude oil and gasoline surge amid the war with Iran.

On Sunday, oil prices surpassed the $100-a-barrel milestone for the first time in more than three-and-a-half years

US president describes conflict as ‘very complete’, but threatens further strikes after Iran says it won’t allow ‘one litre of oil’ to leave Middle East while war continues

The war's price, measured in damage to the economy and in political costs to Trump, is still coming into view.

The oil price reached nearly $120 a barrel on Monday over fears of lengthy disruption to supplies.