Trump says short-term oil spike worth it to end Iran nuclear threat

President Donald Trump defended potential short-term spikes in oil prices amid escalating tensions with Iran, arguing that economic impacts would be temporary and outweighed by long-term security gains. In a post on Truth Social late Sunday, the president dismissed concerns over surging energy costs triggered by the ongoing U.S.-Israeli conflict with Iran, now in its second week.

Oil prices COULD rocket past $100 per barrel

Reaching highs not seen since 2022—as disruptions in the Strait of Hormuz and attacks on regional energy infrastructure have curtailed global supply flows.“Short-term oil prices, which will drop rapidly when the destruction of the Iranian nuclear threat is over, are a very small price to pay for the U.S.A. and the world’s safety and Peace,” Trump wrote. “ONLY FOOLS WOULD THINK DIFFERENTLY!”

The remarks come as West Texas Intermediate (WTI) crude futures climbed as high as $111 and Brent crude exceeded $107 in early trading Monday, reflecting trader fears of prolonged supply constraints.

BIG BANKS

Analysts from firms like Goldman Sachs have warned that sustained blockades could push prices even higher, potentially toward $150 per barrel if the conflict drags on. Trump's comments echo earlier statements where he downplayed gas price surges, insisting the military operation—aimed at neutralizing Iran's nuclear capabilities—takes precedence over temporary economic pain.

He has repeatedly predicted a swift resolution leading to lower energy costs once the "nuclear threat" is eliminated. The post drew immediate reactions online, with supporters praising the focus on long-term peace and critics highlighting the immediate burden on American consumers facing higher gasoline prices, now averaging over $3.40 per gallon nationally, according to recent reports.

This development follows the recent appointment of Mojtaba Khamenei as Iran's new Supreme Leader, a move seen as reinforcing hardline continuity amid the war. Trump has previously indicated that any new Iranian leadership would require U.S. approval to endure. As markets digest the volatility, the White House continues to bet on a short campaign, with no plans announced to tap the Strategic Petroleum Reserve despite mounting calls to ease price pressures.