Trump's Call to Lower Oil Prices Amid Middle East Tensions
U.S. President Donald Trump urged for lower oil prices following Iran facility attacks, fearing price hikes. He challenged the Department of Energy to boost drilling, echoed by Energy Secretary Chris Wright. Oil prices fluctuated, hitting $76.10 a barrel. Trump's stance contrasts Biden's Strategic Petroleum Reserve tactics post-Ukraine crisis.
In a bold statement on Monday, former U.S. President Donald Trump issued a call for lower oil prices amid global worries stemming from recent attacks on Iranian nuclear facilities. Trump expressed his concerns via Truth Social, where he emphasized the importance of maintaining affordable oil to avoid playing into adversaries' strategies.
Trump encouraged the U.S. Department of Energy to ramp up drilling activities with his signature phrase, 'drill, baby, drill.' U.S. Energy Secretary Chris Wright quickly affirmed the administration's commitment to this goal. The response has reignited conversations about energy policy as the nation recalls record drilling highs during Trump's presidency.
Oil prices witnessed fluctuations on Monday, initially reaching a five-month peak before declining to $76.10 per barrel. Concurrently, discussions around tapping into the Strategic Petroleum Reserve resurfaced. Trump has previously criticized the Biden administration's handling of the reserve amidst geopolitical tensions, highlighting differing energy strategies between the two administrations.
(With inputs from agencies.)
Google News