President Donald Trump suggested that oil prices may need to rise again, despite his expectation of a decline following the end of the war in Iran.
On August 5, during an economic speech in Las Vegas, Nevada, Trump assessed that oil prices have stabilized somewhat recently, stating, "We may have to raise oil prices again." He added, "You know what happens when we raise oil prices, right? But I hope we don’t have to do that."
Trump did not elaborate on the specific reasons or measures that might necessitate a rise in oil prices. He has claimed for weeks that oil prices would drop once the war in Iran concludes, but prices have generally remained high as the conflict continues.
Attendees at the event expressed concerns about rising oil prices. Terrilyn Taylor, a 60-year-old teacher from Las Vegas, pointed out that housing prices, interest rates, and gasoline prices are excessively high. He remarked, "I don’t think everything is Trump’s fault, but I thought the rise in gas prices would be temporary. Now, I really hope the Iran issue gets resolved."
Trump also expressed a preference for negotiating an agreement with Iran rather than pursuing further military action. He stated, "It’s better to reach an agreement with Iran because I don’t want to see people die."
He claimed that the U.S. had prepared for the largest military strike against Iran since World War II, but that Iran requested negotiations, leading to the strike not being executed. Trump noted, "We were fully prepared for an attack, but Iran called and said, ‘Please don’t attack, let’s talk,’" adding that both sides are currently engaged in dialogue. However, he emphasized, "I will not allow Iran to have nuclear weapons."
Meanwhile, Trump highlighted the success of his economic policies, claiming that U.S. exports have reached an all-time high. He stated, "Just yesterday, it was announced that U.S. exports have completely taken off in a positive way," asserting that exports have surged to the highest level in American history.
However, according to the U.S. Census Bureau and the Bureau of Economic Analysis (BEA), U.S. exports in June totaled $314.7 billion, a 0.9% decrease from the previous month. The three-month moving average also showed a decline in exports. While exports have increased by 11.7% this year, the growth has been driven by a rise in energy product exports, including gold and crude oil, reflecting the impact of rising energy prices due to the war in Iran.
* This article has been translated by AI.
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