▲ U.S. President Donald Trump

U.S. President Donald Trump on March 8 (local time) claimed that international oil prices, which have surged above $100 per barrel amid the war involving the United States, Israel, and Iran, are a price worth paying for peace and will plunge once Iran’s nuclear threat is eliminated.

In a post on his social media platform Truth Social that day, Trump wrote, “Short-term oil prices, which will fall sharply once the destruction of the Iranian nuclear threat is complete, are a very small price to pay for the United States and the world, for safety and peace,” adding, “Only fools would think otherwise.”

His remarks are interpreted as suggesting that oil prices will decline once the current U.S. and Israeli attacks on Iran are successfully concluded.

As of 7:26 a.m. Korea time that day, West Texas Intermediate (WTI) crude oil futures for April delivery on the New York Mercantile Exchange were trading at $107.54 per barrel, up 14.85% from the previous session. At one point, WTI rose to as high as $111.24.

This marks the first time since July 2022 that WTI prices have exceeded $100 per barrel.

Brent crude, the international benchmark, was trading at $107.54 per barrel on the London ICE Futures Exchange at the same time, also up 14.85%.

This article is for informational purposes only and does not constitute investment advice.

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