Balgarianovinite.com
President Donald Trump said he believed that the oil price spike that has rocked international energy markets since the beginning of the conflict with Iran was “worthwhile” trade-off to “stop” Tehran from getting a “nuclear weapon.”
Traffic through the Strait of Hormuz, the strategically critical and narrow waterway to Iran’s south, through which a significant share of the world’s oil supply flows, has been shuttered since strikes began on February 28. After a temporary two-week ceasefire was announced, an agreement was not reached during negotiations, and the president announced a blockade of Iranian naval ports.
In the weeks since the conflict began, volatility has hit stocks and oil prices, which briefly peaked close to $119 per barrel in March, but have stabilized and dropped slightly since the ceasefire took effect.
Trump sat down with Fox Business host Maria Bartiromo for an interview televised on Wednesday’s Mornings with Maria, where he was pressed on the “tough quarter” that the stock market had faced as a result of the conflict.
Speaking of the war and Trump’s stock market record, she said: “The backdrop has changed, I know it’s only been a month or so, but oil prices are up 50%, the stock market had a tough first quarter –”
“You’re right,” Trump said, “but they’re not up by –”
“You thought it’d be even worse?” Bartiromo pressed.
Trump replied: “I thought there would be much [worse] and I was willing to do that to stop a nuclear weapon against this country or the Middle East, anybody in the Middle East – they were going to take out the Middle East, to stop that, it was certainly worthwhile being much higher than it is right now.”
“If you told me at only $92 a barrel I would’ve been very surprised and you know what? I’m very happy,” he added. And it’s going to come dropping down very big as soon as it’s over and I think it could be over very soon.”
Watch above via Fox Business.
The post Trump Says Oil Price Pain ‘Worthwhile’ to ‘Stop’ Iran Getting ‘Nuclear Weapon’: ‘They Were Gonna Take Out the Middle East’ first appeared on Mediaite.
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