President Donald Trump says a sharp increase in high oil prices is a “small price to pay” in the fight against Iran.
“Short-term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, are a very small price to pay for the U.S. and world safety and peace,” Trump wrote on Truth Social, adding, “ONLY FOOLS WOULD THINK DIFFERENTLY!”
Oil prices have risen to more than $100 a barrel since the United States launched its attack on Iran in conjunction with Israel, killing Iranian Supreme Leader Ali Khamenei and striking hundreds of Iran’s military targets.
Crude oil futures in London and New York soared almost 30% to nearly $120 a barrel on Monday, one of the biggest one-day jumps on record in early trading, threatening to raise costs of products from gasoline to jet fuel.