Trump forecasts oil below $2 a gallon after US ‘victory’ over Iran

Washington, DC: US President Donald Trump claimed on Monday (local time) that oil prices will drop sharply once the United States achieves victory in its conflict with Iran, forecasting gas prices could fall below two dollars per gallon.

In a post on his Truth Social platform, Trump linked high energy costs directly to ongoing military operations in the Middle East, asserting that post-war markets would stabilise rapidly.

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"Oil prices will drop precipitously, like everything else is dropping (but more!), when we WIN the war with Iran," Trump wrote. "Three Dollars a gallon, but ultimately, below Two Dollars a gallon."

Trump further reiterated his threat that the US will not let Iran have a nuclear weapon.

"It will all happen quickly, and Iran will never have a Nuclear Weapon. MAGA!" he added.

Earlier, Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Monday issued a stark warning to Washington against any misadventures towards Iranian energy facilities, warning of sharp repercussions.

In a post on X, he said that Iran's oil and gas production chain is "sprawling, accessible, and exposed."

He added, "American oil and gas companies across these waters and facilities share that exposure. Strike our assets, and you get struck. We've already proven it. Ask the bases that are no longer viable."

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In an image shared along the post on X, Ghalibaf said, "The lost decade of the US Economy is coming,* because some clowns at D.O. [I]. W. decided so."

Ghalibaf made the remarks as he reshared a post by US Secretary of War Pete Hegseth, who claimed that Iran's "oil tanker fleet is defenceless"-- reiterating Washington's claims of destruction of Iran's navy and air force.

Hegseth said, "It's simple: if Iran shoots at U.S. ships, we will destroy (and sink) their oil tankers. All they have to do is not shoot at @USNavy. Iran's oil tanker fleet is defenceless - Iran has no navy or air force. Our planes, ships & subs can strike them all in @CENTCOM & @USPACOM."

"Iran's oil tanker fleet is defenseless - Iran has no navy or air force. Our planes, ships & subs can strike them all, in @CENTCOM & @USPACOM," he added.

Hegseth shared a clip from the US Central Command in which the video footage showcased strikes on tankers.

CENTCOM claimed that the three Iranian crude oil tankers were part of a multibillion-dollar shadow network that funds the IRGC and its regional proxies, adding that Iran had no means to defend the vessels.

"Let the message to the IRGC be clear: If you shoot at two of our ships, we will impose an even higher economic cost -taking out three of yours," said Adm. Brad Cooper, CENTCOM commander.

"We will not hesitate to defend American forces, and if necessary, destroy Iran's limited and exposed oil fleet," Cooper added.