President Donald Trump said that the U.S. would consider a permanent interest in Iran’s oil industry during his Sunday remarks to the press in Ireland.
“We’ll ultimately get out unless we decide to stay and keep the oil, like Venezuela,” Trump told reporters. He also repeated the assertion that the Iran War would end after the American midterm elections, after which “oil prices will come tumbling down.”
Trump also reiterated his intention to avoid intervening in the conflict between Saudi Arabia and Yemen’s Houthis, who made significant territorial gains against the internationally recognized Yemeni government last week, increasing their capacity to threaten Red Sea shipping and roil energy markets.
“Well, I have had a call with MBS. He’s a good friend of mine and, uh, it’s gonna, I can just say everything’s gonna work out fine and dandy,” said Trump. “It’s gonna be very good. So you don’t get involved in these things.”
Trump said in a Tuesday morning social media post that he was open to the “concept” of negotiating with “the failing Nation of Iran.”
A planned Monday meeting about the future of the Strait of Hormuz between the Gulf nations and Iran was postponed. Oman’s Foreign Minister Sayyid Badr Al-Busaidi said the meeting was called off in the interest of “consensus” among the Gulf nations. A spokesman for the Iranian Foreign Ministry said Saudi Arabia had requested the postponement.
Brent crude opened Monday at $108 per barrel. AAA reported a national average price of $4.32 per gallon of regular gas and a new all-time record of $6.23 for a gallon of diesel.
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