Trump claims U.S. seizure of Iranian oil is lowering inflation
President Trump said the United States is removing millions of barrels of Iranian oil, which he believes will help bring down inflation after the conflict ends.
President Donald Trump told reporters in the Oval Office that he welcomes the recent rise in inflation, saying he "loves" it because the United States is allegedly removing "millions" of barrels of Iranian oil through the Strait of Hormuz. He said the action, described as a nighttime operation involving dozens of ships, is intended to lower oil prices and, consequently, inflation once the war ends.
When asked about the Consumer Price Index, which rose to an annual 4.2% in the latest report, Trump responded, > "No, I love it. The numbers were great. You know what I really love? I love the inflation.\" He added that the United States had taken out 22 ships "late at night, with no lights" and that this effort had resulted in more than 100 million barrels of oil reaching the market and over 200 commercial vessels safely passing through the strait.
Trump also claimed that oil prices, currently around $85 to $94 per barrel, would fall sharply after the conflict concludes, and he linked higher stock market levels to the same strategy. He suggested that Iran might eventually seek a deal, while asserting that the United States now controls the Strait of Hormuz.
The president’s remarks came amid polling challenges on the economy and rising inflation ahead of the midterm elections.
