Trump Says Higher Oil Prices Mean Big Profits for the United States

President Donald Trump says the United States stands to gain financially when global oil prices rise, arguing that America’s position as the world’s largest oil producer means higher prices can translate into significant revenue.

In a message posted to his Truth Social platform on Thursday, Trump pointed to the country’s massive oil output as a key reason rising prices could benefit the US economy.

“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.

He added that while the economic impact of higher oil prices is notable, his administration’s primary focus remains preventing Iran from developing nuclear weapons.

“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!”

Energy markets have been volatile since Washington launched military operations targeting Iran earlier this month. The conflict has raised concerns about potential disruptions to global oil supply.

Brent crude, the international oil benchmark, climbed roughly 4.7 percent on Thursday morning, trading near $98 per barrel. The price surge follows a spike above $100 earlier in the week, marking the second time the benchmark has crossed that level since the military campaign began nearly two weeks ago.

Attention has also been focused on the Strait of Hormuz, one of the world’s most critical oil transit routes. The narrow waterway connects the Persian Gulf with the Gulf of Oman and carries roughly 20 percent of the global oil supply.

The strait has remained closed since the conflict escalated earlier this month, raising fears of further price spikes if shipments remain disrupted.

Despite those concerns, Trump told reporters on Wednesday evening that the strategic waterway is currently under control.

“The straits are in great shape,” Trump said. “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.”

At the same time, Americans are increasingly worried about the financial impact of higher energy costs.

A recent national survey found that a large majority of respondents expect gasoline prices to climb over the next year. Sixty seven percent of those surveyed believe prices will rise, while only a small share expect them to fall or remain unchanged.

Energy Secretary Chris Wright acknowledged that consumers may experience short term increases in energy costs as the conflict continues.

Speaking in a television interview Thursday, Wright said the administration believes the military campaign will ultimately reduce long term threats to global energy markets.

“We are defanging Iran’s abilities to threaten American troops in the area, its allies, its neighbors and global energy markets. So yes, you’ve got to go through short term pain to solve a long-term problem,” Wright said.

The developments come as global energy markets remain highly sensitive to geopolitical tensions, particularly when disruptions involve the Strait of Hormuz, one of the most important oil chokepoints in the world.

With fighting continuing and oil supply concerns growing, analysts expect energy prices to remain volatile in the weeks ahead.