Amid the ongoing rise in fuel prices, US President Donald Trump on Sunday said that global oil prices will come down further once the conflict with Iran
concludes. The US President further asserted that fuel costs are already lower than during his predecessor Joe Biden's administration. Highlighting the energy production trends, Trump claimed that a record volume of oil was extracted overnight, surpassing pre-war production levels. "Oil will come dropping down as soon as Iran gives up, as soon as the war is over, which will be soon. Oil is going to come plummeting down, and oil prices are coming down," Trump said, adding, "But with all of that being said, we're taking tremendous amounts of oil out. Last night we took a record amount of oil out from the harmonious trade, more than we took out before the war." Trump's remarks come a day after he reiterated his rejection of a proposed regional arrangement concerning a vital maritime trade route, dismissing terms regarding the critical shipping lane. As reported by the Iranian state-affiliated Student News Network (SNN), Trump stated, “I reject this agreement.” He added, "They want an agreement to be made under which the Strait of Hormuz is immediately opened, because they are severely failing." According to the report, which quoted US officials, the US President has told aides he expects to resume bombing Iran after the November midterms. Following his rejection, Iranian Foreign Minister Seyyed Abbas Araghchi said that Tehran had witnessed the first reaction from the US President on its proposal but was waiting for mediators to convey the "definitive opinions" before making a decision. Speaking to Islamic Republic of Iran Broadcasting (IRIB) and Islamic Republic News Agency (IRNA) reporters on the sidelines of the UN General Assembly, Araghchi said that Iran had presented its plans during meetings and that they were conveyed to the American side through intermediaries. "The plans we presented were reviewed, explained, and discussed in meetings. They were also conveyed to the American side by intermediaries," he said, according to his official Telegram Channel. (With agency inputs)
