US President Donald Trump said the recent spike in oil prices is a “very small price to pay” if it leads to the destruction of Iran’s nuclear capabilities. His remarks come as crude prices surged above $100 per barrel amid escalating conflict in West Asia.
US President Donald Trump defends rising global oil prices, saying short-term spikes are acceptable if Iran’s nuclear threat is eliminated | X
Washington DC [US], March 9: Amid surging global oil prices triggered by escalating conflict in West Asia, United States President Donald Trump said the “short-term” spike is worth the cost if it eliminates Tehran’s nuclear threat.
In a post on Truth Social, Trump argued that oil prices would “drop rapidly” once Iran’s nuclear capabilities are destroyed, adding that “only fools would think differently.”
CRUDE AWAKENING: President Trump said rising oil prices tied to the conflict with Iran are “a very small price to pay” for global safety and peace, predicting prices will fall once the nuclear threat is eliminated. pic.twitter.com/NuhO3E54cg— Fox News (@FoxNews) March 8, 2026
Calling it a small price to pay for American and world safety and peace, Trump wrote, “Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!”
Oil prices surge amid escalating conflict
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Trump’s remarks to assuage fears come after oil prices surged past USD 100 per barrel on Sunday–the first time crossing the mark since the Russia-Ukraine conflict began in 2022, as reported by CNN Business.
According to CNN Business, investors have expressed concern that the conflict with Iran would lead to prolonged restrictions on the flow of oil around the globe. It added that oil and gasoline prices have skyrocketed as the conflict with Iran drew in other countries of West Asia and the Gulf, including attacks on refineries in the region.
It further reported that US oil futures rose 18 per cent to about USD 108 a barrel–their highest level since July 19, 2022, while Brent futures, the global benchmark, increased 16 per cent, thus nearing USD 108 a barrel.
Market reaction and economic concerns
As per the report by CNN Business, the surging oil prices have weighed heavily on stocks in recent days, with traders fearing that a prolonged spike in fuel prices could lead to another spike in inflation and hurt the economy. It further mentioned that Dow futures dropped more than 800 points, or 1.7%. S&P 500 and Nasdaq futures fell 1.6%.
In the wake of the US military strikes on Iran, the average price of gasoline in America touched $3.45 a gallon on Sunday, up 16% from the week prior, according to AAA, as per CNN Business.
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It highlighted that a prolonged spike in oil and gas prices could aggravate affordability in the United States, thereby putting Trump and his party in a precarious political position ahead of the midterm elections this year.
(Disclaimer: Except for the headline, this article has not been edited by FPJ’s editorial team and is auto-generated from an agency feed.)
Trump Defends $100 Oil as “Small Price” for Neutralizing Iran’s Nuclear Threat
WASHINGTON D.C. — As global energy markets reel from the escalating conflict in West Asia, President Donald Trump has signaled that the current surge in oil prices is a necessary trade-off for global security. In a series of statements issued Monday, March 9, 2026, the President argued that the economic “short-term” pain is worth the ultimate goal: the destruction of Iran’s nuclear program.
The Economic Impact: Oil Breaks $100
For the first time since the onset of the Russia-Ukraine war in 2022, crude oil has shattered the $100 per barrel ceiling. The ripple effects are being felt immediately across the globe:
- US Oil Futures: Surged 18% to approximately $108 a barrel.
- Brent Crude: The global benchmark followed suit, climbing 16% to reach the $108 mark.
- At the Pump: The average price for American gasoline hit $3.45 per gallon on Sunday—a 16% increase in just one week.
Trump: “Only Fools Would Think Differently”
Taking to Truth Social to address growing public anxiety over inflation, President Trump dismissed fears of a prolonged energy crisis. He characterized the price spikes as temporary and strategic.
“Short term oil prices… is a very small price to pay for U.S.A., and World, Safety and Peace,” Trump wrote. He predicted that once Iran’s nuclear capabilities are dismantled, prices would “drop rapidly,” adding that “ONLY FOOLS WOULD THINK DIFFERENTLY!”
Wall Street on Edge
While the administration remains defiant, the financial sector is flashing warning signs. Investors are concerned that a widening conflict—which has already seen strikes on regional refineries—could lead to long-term supply disruptions.
- Dow Futures: Plunged over 800 points (1.7%).
- S&P 500 & Nasdaq: Both fell by roughly 1.6%.
Traders fear that if these prices stick, a new wave of inflation could stifle economic growth, placing the Republican party in a “precarious” position as the 2026 midterm elections approach.
Global Context: A Region in Turmoil
The spike follows reported US military strikes on Iranian facilities and retaliatory actions across West Asia. With reports of IEDs found near political residences in the US and shifting leadership in Tehran, the geopolitical landscape remains incredibly volatile.