U.S. President Donald Trump said oil prices will "drop like a rock" once the military conflict with Iran ends, adding that he does not expect it to last long.
He described oil as a "temporary exception" to what he said were broader declines in prices across the U.S., adding that "prices are coming down sharply."
"Oil will drop like a rock as soon as the Military Conflict with Iran is over, and that will not be long," Trump said.
Crude oil prices jumped on Monday after Saudi Arabia closed its critical pipeline that bypasses the Strait of Hormuz, a disruption that will constrain global supplies at a time when the market is already tight.
