President Donald Trump argued Thursday that rising oil prices can work to America’s advantage, even as the ongoing U.S. military operation against Iran raises fresh concerns about energy costs and economic pressure on American consumers.
In a post on Truth Social, Trump pointed to the country’s role as the world’s leading oil producer as a key reason why higher prices may not be entirely negative for the United States.
“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,” Trump wrote.
But the president emphasized that the primary motivation behind the military operation in Iran goes beyond economics. Trump framed the campaign as an effort to prevent Iran from acquiring nuclear weapons and destabilizing the region.
“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. I won’t ever let that happen!” Trump added in the post.
Oil markets have been reacting sharply to the conflict. Brent crude, the international benchmark used to price much of the world’s oil, was trading roughly 4.7 percent higher at about $98 per barrel as of 8 a.m. EST Thursday morning. Just a day earlier, prices had briefly topped $100 per barrel for the second time since the U.S. military operation began 12 days ago.
The spike in prices reflects the tension surrounding the Strait of Hormuz, the narrow waterway between the Persian Gulf and the Gulf of Oman that serves as one of the most important oil transit routes in the world. Roughly one-fifth of global oil supplies pass through the strait, making any disruption there a potential shock to international markets.
Despite the ongoing conflict and the strait’s closure earlier this month, Trump suggested Wednesday evening that the situation in the waterway was under control.
“The straits are in great shape,” Trump told reporters. “We’ve knocked out all of their boats. They have some missiles, but not very many. I think we’re in very good…we’re in very good shape.”
Still, Americans appear increasingly uneasy about what the conflict could mean for their wallets. Public opinion polling indicates that concerns about rising energy costs are spreading as the situation unfolds.
A Reuters/Ipsos survey released Monday found that 67 percent of respondents expect gas prices to increase over the next year. Only 11 percent said they believed prices would improve, while 12 percent predicted they would remain roughly the same.
Those concerns were echoed, at least in part, by Energy Secretary Chris Wright, who acknowledged that Americans may feel the effects of higher energy costs in the near term.
In an interview with CNN on Thursday, Wright said the administration believes the current military campaign is aimed at addressing a broader threat, even if it comes with economic consequences.
“We are defanging Iran’s abilities to threaten American troops in the area, its allies, its neighbors and global energy markets,” Wright said.
“So yes, you’ve got to go through short term pain to solve a long-term problem,” he added.
For many Americans watching the situation unfold, the tension highlights a familiar dilemma: national security concerns abroad can ripple back home through fuel prices and economic uncertainty. While leaders argue the conflict is meant to address larger strategic threats, the immediate impact is already being felt in global energy markets — a reminder that even distant wars can carry real costs.
