Trump downplays rising oil prices, says US makes “a lot of money” when they increase

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U.S. President Donald Trump sought to downplay rising oil prices and market volatility linked to the conflict with Iran on Thursday, March 12, arguing that the United States benefits when energy prices increase.

“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. 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,” Trump wrote in a post on Truth Social.

“I won’t ever let that happen!” he added.

Trump’s comments came as the International Energy Agency warned that the world could be facing the “largest supply disruption in the history of the global oil market” amid intensifying Iranian attacks on shipping routes.

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