Trump eyes European diesel reserves to cut fuel prices

US President Donald Trump said Thursday he may ask European nations to tap their emergency diesel reserves in an effort to ease fuel prices at the pump, linking the proposal to broader efforts to stabilize energy markets amid ongoing Middle East tensions. Speaking to reporters and later during a site visit in Texas, Trump stated that European stockpiles could be made available to help bring down costs. "We may do that. They have some diesel," he said. "The prices are coming down. All prices are coming down."

Iran war and oil forecasts

Trump said oil prices would fall sharply once the war with Iran ends, adding that the conflict would conclude imminently regardless of the outcome. "One way or the other, it's going to end very quick," he said. "And when that ends, oil prices are going to drop like a rock."

He also said Tehran would never acquire nuclear weapons, adding that the confrontation "will very soon be ending one way or the other." Later in Texas, Trump said Iran was experiencing inflation of "almost like 312%," noting its currency had become "valueless."

Strait of Hormuz operations

Trump also said US forces had recently taken more oil through the Strait of Hormuz, saying the US Navy had imposed a blockade and was currently the only force able to get through. "When that happens, when that ends, which will be very soon. One way or the other, it is going to end," he said, referring to the war. "Either they'll do something very proper and smart, or they won't be around very long."