On Tuesday, Trump told reporters aboard Air Force One that he really liked the fact that oil prices dropped nearly $10 yesterday. There have been a lot fewer conflicts, so prices have come down. He stated that the U.S. will continue to extract oil, and the energy department has performed excellently. Analysts believe that soaring oil prices will intensify the political pressure Trump faces, especially regarding the high inflation issue.
Oil prices have dropped, and Trump is very happy.
On Monday night, international oil prices significantly retreated, and Trump immediately stated to reporters on Air Force One on Tuesday:
"I love it, oil prices dropped nearly 10 dollars yesterday. There are a lot fewer conflicts, so prices have come down."
He also stated that the US will continue to extract oil, and the Energy Department is doing an excellent job.
Against the backdrop of easing tensions in the Middle East, international oil prices plummeted significantly on Monday night, briefly dipping more than 13% from the daily high, with US oil falling to above 66 dollars during the day. On Tuesday, US oil and Brent crude again fell over 5% during the day.
Earlier, on Monday, President Trump called on Social Media, urging everyone to push oil prices down. I'm watching! He then specifically pointed out the US Energy Department, demanding quick drilling and extraction, and emphasized that he is serious and wants it done now!
According to a senior government official, the US government is using all means to maintain low oil prices in order to boost the economy, strengthen National Security, and further consolidate its dominant position in the global energy market.
Analysis indicates that the surge in oil prices will only intensify the political pressure Trump faces. He has pledged to address the persistent Qualcomm inflation problem since the COVID-19 pandemic. Trump has always regarded energy costs as a barometer for measuring the effectiveness of his economic policies, and in recent weeks he has repeatedly praised the decline in RBOB Gasoline prices as proof of the success of his policies.
Editor/joryn
