On Social Media: "You must not play into the hands of the enemy"
To the Department of Energy: "Drill, baby, drill"
U.S. President Donald Trump called on the market to "keep oil prices down" on the 23rd (local time), as concerns over a rise in international oil prices intensified following his direct attack on Iran over the past weekend.
President Trump made this statement on his self-created social networking service, Truth Social, saying, "You are playing into the hands of the enemy. You must not do that."
After the United States launched a surprise strike on three major nuclear facilities in Iran on the night of the 21st, the market has become increasingly concerned about a sharp rise in oil prices. In particular, as Iran considers retaliating by blocking the Strait of Hormuz, a key oil shipping route in the Middle East, there is growing apprehension that oil prices could soar above $100 per barrel. A sharp increase in oil prices could lead to higher inflation and greater global economic uncertainty, which would be a significant burden for President Trump.
In another post, President Trump addressed the U.S. Department of Energy, writing, "Drill, baby, drill. Right now." "Drill, baby, drill" was President Trump's campaign slogan advocating for expanded drilling of fossil fuels such as oil and gas.
President Trump's remarks came amid concerns that the U.S. attack on Iranian territory could lead to rising prices within the United States. As a rebound in recently stabilized inflation would inevitably increase President Trump's political burden, he appears to be calling for an expansion of oil supply to the market in an attempt to curb rising oil prices.
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