Trump says oil prices will plunge when war ends
US President Donald Trump said Sunday that oil prices would fall sharply once the war ends, predicting the conflict would be over soon and pointing to increased oil flows through the Strait of Hormuz.
“Oil is going to come plummeting down and oil prices are coming down,” Trump told reporters as he boarded Marine One for Medinah, Illinois.
Trump said a record amount of oil had moved through the Strait of Hormuz overnight, exceeding levels before the war.
“Last night, we took a record amount of oil out of the Hormuz Strait, more than we took out before the war,” Trump said.
Trump also cited employment, income and poverty figures as evidence of the strength of the US economy, saying more Americans were working and individual incomes were higher than ever.