US President Donald Trump on Tuesday indicated that his administration is prepared to take all necessary measures to ease rising crude oil prices, while expressing confidence that inflation would decline sharply once the ongoing conflict with Iran comes to an end.
Trump said the United States would do “whatever is necessary” to stabilise energy markets.
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“We’re going to do whatever is necessary, and as soon as this war is over, which will not be long, you’re going to see oil prices drop and see a stock market, which is already at the highest point in history, go through the roof,” Trump said.
The United States had relaxed sanctions on Russian oil in mid-March to offset global supply shortages triggered by the closure of the Strait of Hormuz. The waiver, initially set to expire on April 11, was later extended until May 16.
Trump’s administration has also tapped into America’s Strategic Petroleum Reserve, increased domestic oil production, and eased shipping regulations to tackle supply disruptions. In addition, temporary relief from sanctions has reportedly been granted for oil exports from Iran and Venezuela.
Speaking about the US economy, Trump claimed the country was entering a “Golden Age” and predicted that inflationary pressures would fall significantly once oil shipments resume at full scale.
“You’re going to see the Golden Age of America, frankly, and you’re seeing it now. As soon as this is over, we’re going to have a gusher of oil and you’re going to have inflation that goes way down,” he stated.
Trump further argued that inflation under his administration remains far below levels recorded during former President Joe Biden’s tenure. He claimed inflation, which stood at around 1.7 per cent before the conflict escalated, could potentially decline to 1.5 per cent after the war ends.
However, recent economic data shows inflation in the United States has risen sharply in recent months, largely due to surging fuel prices linked to the Iran conflict. Reports indicate US inflation climbed to 3.8 per cent in April 2026, the highest level in nearly three years.
Ahead of his departure for China, Trump also expressed optimism about negotiations involving Iran, saying any eventual agreement would benefit both the American and Iranian people. He reiterated his long-standing position that Iran must not be allowed to obtain nuclear weapons.
(This story is published from a syndicated feed)
