- Global crude oil prices crossed $100 after Trump's UN General Assembly speech
- Trump presented a choice to Iran between a peace deal or devastating military action
- Brent crude held around $100.04 a barrel, WTI traded over $91 after the speech
Global crude oil prices crossed $100 again on Tuesday, September 22 after US President Donald Trump's speech at United Nations General Assembly.
Trump told UNGA that he faced a “big decision” over Iran, giving a choice between a peace deal or devastating military action. He, however hoped that the United States and Iran will eventually reach a deal, while urging the Islamic Republic to negotiate and warning that Washington will not permit to develop a nuclear weapon.
Brent crude held around $100.04 a barrel following US President's speech, while West Texas Intermediate traded over $91 a barrel.
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“I believe we'll make a deal with Iran after the election,” Trump said, claiming that the deal between Washington and Tehran will be done “one way or the other”. Trump also urged the Iran enter negotiations.
“I urge Iran to make a deal,” Trump said, claiming, he called Tehran to negotiate many times.
In terms of oil, Trump claimed that more oil is flowing since the war started and predicted that crude prices would fall sharply once the conflict ends. “Oil prices will plummet after the Iran conflict is over,” Trump said, adding that prices could drop to levels below those seen before the conflict.
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