President Donald Trump had a message for reporters Sunday during a trip to Ireland: the U.S. might just stay in Iran and "keep the oil." He compared the idea to a recent American initiative to take control of a portion of Venezuela's oil reserves.

Trump Remains Optimistic Of Ending Iran War This Year

While attending the Irish Open golf championship, Trump expressed optimism that the Iran conflict could conclude this year, potentially after the U.S. midterm elections in November, according to a Reuters report.

He predicted that gasoline prices could "drop like a rock" once the conflict ends.

"We'll ultimately get out (of Iran), unless we decide to stay and keep the oil like Venezuela," Trump said, while noting that the revenue generated by the United States from the South American country has "paid for the war many times."

Amid ongoing Middle East tensions affecting oil markets, Trump emphasized that he would only agree to a favorable deal with Iran. He said that Iran was frequently seeking peace negotiations, a statement the country has previously denied.

Trump's Comments Come Amid Rising Tensions, Crude Oil Prices

The backdrop to President Trump's comments involves escalating tensions between the U.S. and Iran, which have significantly impacted global oil markets.

The American Automobile Association (AAA) recently highlighted that the national average price of gas surged to a three-month high due to the ongoing conflict, with crude oil prices returning to the $100 per barrel range. This increase in gas prices has been attributed to volatility in the Strait of Hormuz, a critical passage for global oil shipments.

Additionally, diesel prices in California have reached unprecedented levels, with some stations maxing out at $9.999 per gallon. This price surge has led to a significant increase in daily fuel expenses for Americans, amounting to $700 million more per day compared to the previous year.

President Trump also announced that the U.S. had struck nine Iranian ships, further intensifying the conflict. He hinted at more attacks to come, indicating a potential escalation in military actions.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.