Trump Says US Made 'Great Settlement' of War With Iran
Speakers
Donald Trump
— President of the United States
Summary
President Donald Trump announces a great settlement of the war with Iran, expecting final documents and a signing within days. He notes US stocks jumped 1,000 points and oil prices dropped on the news. He predicts gasoline could fall toward $1.85 a gallon and expects lower oil to drag down other prices.
- Trump says the US made a 'great settlement' of the war with Iran, with finalization likely in days and a possible signing in Europe.
- Stock markets rose 1,000 points, which Trump interprets as approval of the deal.
- Oil prices declined on the announcement.
- Trump expects further oil price declines, and specifically forecasts gasoline could drop to around $1.85 per gallon.
- He links dropping oil to broader price declines across the economy.
Ideas
Oil prices to fall after Iran settlement
The settlement of the war with Iran will cause oil prices to decline further from already lower levels, as geopolitical risk decreases and supply fears ease. He states oil has already dropped and expects further declines, with lower oil dragging down other prices.
Gasoline to drop to $1.85 per gallon
The Iran settlement will push US gasoline prices materially lower, likely back toward $1.85 per gallon, the level he referenced from his earlier comments about Iowa. He expresses conviction that gasoline is coming down significantly as oil drops.
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