DUBLIN: US President Donald Trump has said that the war involving Iran will end very soon, after which oil prices are expected to decline.
Trump made the remarks during his visit to Ireland, where he met with the Irish president and discussed trade and bilateral relations between the United States and Ireland.
Speaking to the media, Trump said that the United States and Ireland were working together very effectively. He also expressed confidence that the conflict involving Iran would come to an end soon.
“The Iran war will end very soon,” Trump said, adding that oil prices would fall once the conflict ends.
His comments come amid heightened concerns over energy supplies and the impact of regional tensions on global oil markets. Any disruption to oil transportation through the Middle East can place upward pressure on international crude prices because the region is a major source of global energy supplies.
During the media interaction, a journalist asked Trump whether he could help restore shipping through the Strait of Hormuz, particularly in light of recent concerns involving Saudi Arabia and regional security.
In response, Trump described Saudi Crown Prince Mohammed bin Salman as a good friend and expressed confidence that the situation would eventually be resolved.
“The Saudi Crown Prince is a good friend of mine. Everything will be fine,” Trump said.
Trump was also asked about an attack on important to the international oil market because a substantial share of global oil and gas shipments passes through the waterway. Any prolonged will decline following the end of the conflict indicates that his administration expects current geopolitical tensions to be a major factor behind recent pressure a pipeline in the region. He said Iran was probably responsible for the attack, while adding that the Houthis did not want to fight the United States.
The comments reflect the US president’s continued focus on bringing the regional conflict to an end while seeking to prevent further disruption to global energy supplies.
The Strait of Hormuz is particularly important to the international oil market because a substantial share of global oil and gas shipments passes through the waterway. Any prolonged disruption could have significant consequences for energy prices and the economies of oil-importing countries.
Trump’s prediction that oil prices will decline following the end of the conflict indicates that his administration expects current geopolitical tensions to be a major factor behind recent pressure on energy markets.
He also sought to reassure the public regarding US relations with Saudi Arabia, describing the Saudi crown prince as a close friend and saying he expected the situation to stabilize.
At the same time, Trump’s allegation regarding Iran’s possible responsibility for the pipeline attack adds to the broader tensions between Washington and Tehran. Iran has consistently rejected allegations and accusations that it seeks to destabilize the region.
Trump’s comments in Dublin therefore touched on several interconnected issues, including the Iran conflict, oil prices, the security of the Strait of Hormuz, relations with Saudi Arabia and the activities of the Houthis.
For global energy markets, the duration and outcome of the conflict will remain crucial. If hostilities end and shipping routes return to normal, reduced geopolitical risk could ease pressure on crude oil prices. However, any continued disruption to energy infrastructure or maritime trade could keep prices elevated.
Trump nevertheless expressed confidence that the conflict would end soon and that conditions in the region would improve, ultimately allowing oil prices to come down.
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