President Donald Trump said today that he expected a sharper spike in oil prices, suggesting the economic impact has so far been more limited than what he anticipated before authorizing US strikes on Iran. Report CNN
“And I said, you know, if I do that, oil prices will go up, the economy will go down a little bit. I thought it would be worse, much worse,” Trump said during a bilateral meeting in the Oval Office with Japanese Prime Minister Sanae Takaichi.
“Actually, I thought there was a chance it could be much worse. It’s not bad, and it’s going to be over with pretty soon,” Trump added.
When asked whether he would lift sanctions on Iranian oil, the president said he would do “whatever is necessary” to help with prices.
His remarks come as global energy markets have reacted to escalating tensions in the Middle East, with Brent crude, the international oil benchmark, surging to $115 a barrel Thursday morning after Israeli strikes triggered Iranian retaliation targeting key energy infrastructure.
