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Trump Shrugs Off Oil Price Surge During Iran Operation: 'If Prices Rise, So Be It'

Published On Fri, 06 Mar 2026
Anika Pillai
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President Donald Trump shrugged off soaring oil prices tied to the escalating U.S.-Iran military operation, likening his stance to a gritty movie moment from Rocky IV with a no-nonsense quip: "If they rise, they rise." Speaking to reporters this week, Trump doubled down on "Operation Epic Fury," the joint U.S.-Israeli strikes hammering Iran's nuclear facilities and missile program after stalled talks broke down. The president, fresh off his 2025 reelection, framed the short-term energy pinch as a necessary trade-off for long-term security, vowing prices would plummet once the job's done—potentially in four to five weeks.

Global crude benchmarks have rocketed, with Brent crude topping $81 a barrel (up over 9%) and West Texas Intermediate (WTI) nearing $77—its highest in a year—on panic over the Strait of Hormuz, through which 20% of the world's oil supply passes daily. U.S. gasoline prices have surged past $3 per gallon nationwide, stirring memories of past Middle East flare-ups like the 2019 drone incident that briefly spiked costs.

The White House is eyeing U.S. Navy escorts for oil tankers and expanded risk insurance to steady flows, holding off on tapping the Strategic Petroleum Reserve for now. Analysts warn prolonged conflict could fuel inflation and dent consumer wallets right before midterms, echoing the 1970s oil crises that battered economies.

Trump's team argues the operation neutralizes Iran's naval threats, securing the Hormuz route and paving the way for stable, lower prices post-conflict. A weakened or restructured Iran could even boost transparent oil exports, flooding markets and countering recent spikes. For American drivers, it's a tough pill—higher pump prices now for a shot at energy dominance later.

Disclaimer: This image is taken from NDTV.