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US President Donald Trump stated Sunday that global oil prices will decrease further once the conflict with Iran concludes, asserting that fuel costs are already lower than during his predecessor Joe Biden's administration.
Speaking briefly before departing the White House prior to taking off for the Chicago area to attend the Presidents Cup, Trump highlighted energy production trends, claiming 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," he said. "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," he added. He also pointed to broader economic relief for consumers, stating that grocery prices have fallen sharply under his administration. "But prices for groceries have come way down from Biden. There we are. Almost every price has come way down, and remember one thing: oil is less expensive now than it was under the Biden administration." In addition to energy markets, the president cited broader economic indicators, praising record US employment figures, the lowest poverty rate in American history, and peak per-capita income levels. "We have the best deployment numbers just came out in the history of our country. More people working today than at any time ever before. We have the best. I guess you could say poverty. There's no poverty. We have the best poverty numbers ever in the history of our country. There's less poverty now than at any time in the history of our country, and we have the best income numbers per individual in the history of our country, people are making more money than they've ever made before," he stated. Trump made the remarks prior to taking off for the Chicago area to attend the Presidents Cup, where he is serving as honorary chairman. Calling the tournament one of golf's premier events alongside the Ryder Cup, Trump said he plans to remain at the competition for a period of time accompanied by members of his team. 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 forcefully stated, I reject this agreement.They want an agreement to be made under which the Strait of Hormuz is immediately opened, because they are severely failing, he added. 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. "We have seen the first reaction from the US President, but nothing has been conveyed to us from the mediators yet. Of course, the US President has made many good and also contradictory statements, which unfortunately are heard a lot from him. We are waiting for the definitive opinions to be conveyed to us by the mediators, and we will make a decision based on that," he added. On the Strait of Hormuz, Araghchi said that Iran's conditions for opening the waterway and advancing negotiations had been set by the Supreme National Security Council and were conveyed during meetings with mediators. Araghchi, in a statement on Telegram, said that Iran had defended its positions, policies, and conditions during the meetings and presented various plans for a diplomatic path. Voicing similar sentiments, Iranian President Masoud Pezeshkian said that Tehran will remain resolute and not retreat in the face of the United States and Israel, as US President Donald Trump rejected Irans proposal for a seven-day ceasefire and reopening of the Strait of Hormuz. Addressing people who had gathered at the airport to welcome him after his return from the United Nations General Assembly in New York, Pezeshkian said, We stand firm with strength, we are at the service of our people, we will stand until our last breath, and we promise that as long as we have life in our bodies, we will be honest servants to the people; you have put us to shame, I do not consider myself worthy of your presence, I am your servant. Pezeshkian and Iranian Foreign Minister Abbas Araghchi had earlier visited the US this week for the United Nations gathering of world leaders and proposed a seven-day roadmap aimed at ending the fighting and reopening the Strait of Hormuz. Under the proposal, Washington is expected to lift its naval blockade of Iranian ports, waive sanctions on Iranian oil sales, release an estimated USD 12 billion in frozen Iranian assets and observe a ceasefire covering the region, including Lebanon and Yemen. In return, Iran would reopen the Strait of Hormuz, while talks with the US on a final agreement concerning Irans nuclear programme would begin on the seventh day. Araghchi had said the initial steps would take four to five days and the waterway would reopen on the sixth day. (ANI)
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