Overview

• President Trump demanded on Truth Social that “everyone” keep oil prices down or risk “playing right into the hands of the enemy.”
• His posts followed U.S. airstrikes on Iran’s key nuclear sites, raising fears of energy-supply retaliation in the Middle East.
• U.S. crude fell 1.02% to $73.09 per barrel and Brent dropped 0.95% to $76.28 after his comments.
• Trump urged the Department of Energy to “drill, baby, drill,” even though actual drilling is conducted by private companies.
• Earlier this year, some U.S. oil firms warned they might cut output after tariffs and OPEC+ supply increases drove prices to multiyear lows.