- Trump called for lower oil prices, warning that high costs benefit U.S. adversaries amid Middle East tensions.
- Oil prices dipped after his post, despite weekend strikes on Iran that initially sent futures soaring.
- The White House echoed Trump’s call, though energy production decisions remain with private companies.
President Donald Trump issued a stark warning Monday, urging oil producers to keep prices low amid heightened Middle East tensions. Posting on Truth Social, Trump warned, “EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY.” His remarks came shortly after the U.S. launched strikes on Iran’s nuclear sites, raising fears of retaliation that could disrupt global oil supplies.
Market Response to Presidential Pressure
Following Trump’s posts, U.S. crude dropped by $0.75 to $73.09 per barrel, while Brent crude slipped $0.73 to $76.28. Although prices briefly spiked Sunday night, markets have since calmed, with futures trading relatively flat. Trump also directed a pointed message at domestic energy producers: “DRILL, BABY, DRILL!!! And I mean NOW!!!” However, experts note that oil production in the U.S. is driven by private market decisions, not government mandates.
White House Echoes Trump’s Concerns
White House spokesperson Harrison Fields reinforced Trump’s message, saying producers “must keep oil prices down or risk playing into the hands of the enemy.”
It remains unclear exactly whom Trump was targeting with his demands, though analysts believe the warning was aimed at both domestic producers and OPEC+ nations.
