U.S. President Donald Trump has defended the surge in global crude prices to over $100 per barrel amid the ongoing conflict with Iran, describing the spike as “a small price to pay” for global peace and security.
Trump made the remark while reacting to the impact of the war on global energy markets, insisting that temporary economic pain was justified if it led to the elimination of Iran’s nuclear threat.
“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,” Trump said.
The president’s comment came as crude prices climbed past the $100 mark amid fears that the conflict could disrupt shipments through the Strait of Hormuz, a strategic route through which a significant share of the world’s oil supply passes.
Meanwhile, the United States Department of Defense confirmed that another American soldier had died from injuries sustained during Iranian attacks, raising the number of U.S. military fatalities in the conflict to seven.
According to U.S. officials, the soldier had suffered critical injuries during a strike linked to Iranian retaliation and later died while being prepared for evacuation to a military hospital in Germany.
The escalating war between the United States and Iran has heightened tensions across the Middle East, rattled global financial markets and raised concerns about a prolonged disruption to global energy supplies.
