Trump asserts that the U.S. makes "a lot of money" when oil prices rise

The president of the United States, Donald Trump, stated this Friday that the country gains significant benefits when oil prices rise, amidst growing tension in the Middle East and the possibility of a blockade of the Strait of Hormuz, one of the most strategic energy routes in the world.

In a message posted on his social network Truth Social, Trump highlighted the role of the United States in global crude oil production; without mentioning that it is struggling to contain the surging energy prices that have soared due to the war in Iran.

"United States is the largest oil producer in the world by a wide margin, so when oil prices go up, we make a lot of money," the president wrote.

Regarding the conflict in the Middle East, Trump stated that his main concern is not the economic impact, but rather preventing Iran from developing nuclear weapons.

"But it is of much greater interest and importance to me, as president, to prevent an evil empire—Iran—from obtaining nuclear weapons and destroying the Middle East and, in fact, the entire world. I will never allow that to happen!" he added.

The statements come amid the escalation of the conflict with Iran and after the new Iranian Supreme Leader, Mojtaba Jamenei, raised the possibility of blocking the Strait of Hormuz as a means of exerting pressure on the United States and its allies.

The Strait of Hormuz is a key route for global oil transportation, through which nearly one-fifth of the crude oil traded worldwide passes. Any disruption in this route typically leads to immediate increases in international oil prices.

Jamenei, who took on leadership after the death of his father Ali Jamenei in a U.S. bombing at the beginning of the offensive against Tehran, warned that Iran is also considering opening new fronts of confrontation in the region.

The Iranian leader also defended drone and missile attacks against neighboring countries that host U.S. military bases, such as Qatar, Bahrain, Iraq, and the United Arab Emirates, and stated that these operations would continue against what he referred to as “aggressors.”

The crisis surrounding the Strait of Hormuz has raised concerns in international energy markets, due to the risk that a blockade or attacks in the area could lead to a significant increase in the price of oil and fuels globally.