President Donald Trump has doubled down on the U.S. naval blockade of Iranian ports, asserting that Tehran is "dying to make a deal" amid soaring global oil prices. Speaking on Thursday, Trump dismissed concerns over rising fuel costs, promising that gasoline prices will "drop like a rock" once the conflict ends.
Oil prices stabilized after hitting wartime highs earlier in the day, though there remains little evidence of progress toward a U.S.-Iran agreement. The blockade, which restricts Iranian oil exports, has contributed to market volatility and increased pressure on global supply chains.
"The gas will go down," Trump said, addressing rising pump prices across parts of the United States. "As soon as the war is over, it'll drop like a rock."
However, analysts caution that a quick resolution is unlikely. The standoff shows no sign of easing, with both sides holding firm on their positions. The Biden administration had previously relaxed some sanctions, but Trump's return to a maximum-pressure strategy has reignited tensions in the region.
The situation remains fluid, with markets closely watching for any diplomatic breakthroughs or further escalation.