Trump Predicts Oil Prices Will Plummet Once Iran Conflict Ends

Brent crude nudged past the $109 mark on Monday, a price bump that many analysts attribute to Saudi Arabia’s decision to shut its East‑West pipeline after drones launched from Iraq damaged the artery. The move choked a key route that normally skirts the Strait of Hormuz, tightening global supplies just as markets were already feeling the squeeze.

Amid the rally, former President Donald Trump took to Truth Social to remind everyone that, in his view, the rally is only temporary. “Oil will drop like a rock once the Iran conflict ends – and that won’t be long,” he wrote, adding a dose of political flair by blaming the Biden administration for higher prices across the board.

Trump’s post was peppered with the usual comparisons. He claimed that even under President Biden, oil was pricier than it is today, and he credited his own administration with stopping Iran from acquiring a nuclear weapon. Whether you agree or not, his message was clear: the current oil bump is a blip, not a new normal.

On the ground, the Saudi pipeline issue is still murky. Saudi officials haven’t disclosed the extent of the damage or how long repairs might take, leaving traders to guess. CNBC reported that the shutdown could constrain supplies for weeks, especially since the pipeline bypasses the geopolitically sensitive Hormuz strait.

Meanwhile, oil‑related exchange‑traded funds (ETFs) are reacting to the news. The United States Oil Fund (USO), which mirrors West Texas Intermediate (WTI), was up about 0.76% when this was written, while ProShares Ultra Bloomberg Crude Oil (UCO) inched up 0.19%. Retail sentiment on both funds is described as “extremely bullish.” By contrast, the natural‑gas‑focused BOIL ETF rose nearly 5% but carries a “bearish” sentiment label.

In broader market terms, U.S. equities were mostly in the red. The SPDR S&P 500 ETF (SPY) slipped 0.2%, the Dow‑linked DIA fell 0.9%, and the Nasdaq‑100 tracking QQQ dropped 0.35%. Stocktwits retail sentiment mirrored the slide, flagging SPY and DIA as “bearish” and QQQ as “extremely bearish.”

Trump’s remarks also touched on his foreign‑policy record. When asked by Fox News about the political risk the Iran conflict poses ahead of the midterms, he said he has no regrets, insisting he would make the same choices again.

All told, the oil market is caught between a short‑term supply shock and a longer‑term political narrative that suggests prices could tumble once hostilities ease. Investors will be watching both the Saudi pipeline repair timeline and any diplomatic moves that might calm the Iran‑related tensions.