Amid ongoing Iran war, US President Donald Trump on Thursday said that his country will make a lot of money when the oil prices go up, but “stopping an evil empire from having nuclear weapons” was of far greater interest and importance.
Trump made the comment in a post on social media platform Truth Social.
“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” he wrote, adding that, “BUT, of far greater interest and importance to me, as President, is stopping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World,”
He asserted that he would not let that happen.
Also Read: 'Get Ready For Oil At $200/Barrel', Iran Warns Even As Trump Expects War To End Soon
Oil prices have been spiralling to new highs, even reaching $120 per barrel in the previous days, as war has ravaged West Asia.
Today, the prices settled around $100 per dollar, much to the concern of the United States and many other countries.
The prices have been driven by Iran's closure of the Strait of Hormuz, a maritime chokepoint which is responsible for the transportation of one-fifth of the world's crude oil.
Also Read: US To Release 172 Million Barrels Of Oil For IEA Relief Plan
The boss of Saudi Arabia's Aramco, the world's biggest oil exporter, has warned of "catastrophic consequences" if the Strait of Hormuz remains blocked, the BBC reported.
Amin Nasser, chief executive of the company, said that global stockpiles of oil were at their lowest in five years, and the supply bottleneck meant these would be used at a faster rate. "The longer the disruption goes on... the more drastic the consequences for the global economy," he said.
The prices have been controlled to a large extent, with Trump repeatedly asserting that the war in the Middle East was “very complete”. He has also been warning Iran of dire consequences if it keeps disrupting the oil supplies through the Strait.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.