U.S. President Donald Trump acknowledged the economic toll that the U.S. and Israeli war on Iran is having on oil prices, but promised they will drop after the conflict ends.
The U.S. leader made the statement in the Oval Office as he hosted German Chancellor Friedrich Merz.
"If we have a little high oil prices for a little while, but as soon as this ends, those prices are going to drop, I believe, lower than even before," Trump said.
Oil prices have surged since Trump and Israel launched attacks across Iran that have eliminated senior leaders, including Supreme Leader Ayatollah Ali Khamenei, beginning in the early morning hours of Saturday.
On March 2, Brent jumped 7.1% to close at $78.15, while WTI rose 6.2% to $71.33, pushing oil prices to recent highs.
![November 2025 in photos: New Year at GUM, the "City of Living Stories," and autumn scenes](https://en.vestikavkaza.ru/upload2/s400xfull/2025-12-02/1764706769692f49d1538777.83780174.webp "November 2025 in photos: New Year at GUM, the "City of Living Stories," and autumn scenes")
