Oil Drops After Trump Calls On ‘Everyone’ To Keep Oil Prices Down

[mystery-ak]

Oil Drops After Trump Calls On ‘Everyone’ To Keep Oil Prices Down

John Carney 23 Jun 2025

President Donald Trump on Monday called on oil producers to keep prices in check following U.S. airstrikes on Iranian nuclear facilities over the weekend, warning that a spike in energy costs would strengthen America’s enemies.

“EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!,” the president posted on his Truth Social platform Monday morning.

Oil futures eased in the wake of the post. Both Brent Crude, the global benchmark, and West Texas Intermediate, the most watched U.S. oil price, fell by around one percent.

While the president did not specify a target audience, the message appeared directed at the domestic oil industry. Some U.S. producers have recently warned of potential output cuts due to softening prices and growing global supply, particularly as OPEC+ has moved to restore production quotas.

In a follow-up post, Trump wrote: “To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!” Oil production in the United States, however, is controlled by private companies and shaped by market conditions, not directed by the Energy Department.

Despite the heightened geopolitical tensions, oil prices have traded with relative stability since the strikes. Brent surged more than 5 percent on Sunday evening in the initial reaction to the attacks—briefly crossing $81 per barrel—before easing back. WTI also climbed to its highest level since January before retreating.

The U.S. military targeted three key Iranian nuclear sites—Fordow, Natanz, and Isfahan—over the weekend, marking a significant escalation in the regional conflict. While the strikes sparked fears of potential retaliation and threats to energy infrastructure in the Gulf, markets have so far responded with measured moves, reflecting a wait-and-see posture among traders.

Analysts say the muted market response reflects uncertainty over Iran’s next move and skepticism that oil flows will be seriously disrupted. While Iran’s parliament has called for the closure of the Strait of Hormuz, any such action would require approval from the Supreme National Security Council and Supreme Leader Ayatollah Ali Khamenei.

https://www.breitbart.com/economy/2025/06/23/oil-drops-after-trump-calls-on-everyone-to-keep-oil-prices-down/

[Smokin Joe]

Producers do not set oil prices.

Oil futures (and the spot market) are set by bid on futures contracts, and by production agreements that lock in a price for a fixed amount of time and supply.

It isn't like you just go out to the pump jack and raise the price.

[mystery-ak]

Peace Dividend: Oil Market Celebrates Trump-Brokered Peace as Prices Drop Below $70

John Carney 24 Jun 2025

Oil prices plunged Tuesday morning after President Donald Trump secured a ceasefire between Iran and Israel, bringing an abrupt end to a conflict that had threatened to ignite a wider regional war. The markets responded with enthusiasm—Brent crude dropped decisively below the $70 mark, a move that signals both geopolitical relief and a potential windfall for American consumers.

Brent futures for August delivery fell three percent to $69.29 a barrel by 7:30 a.m. New York City time and mid-morning London time. West Texas Intermediate, the U.S. benchmark, was down a similar 3.07 percent to $66.41. These are sharp, meaningful drops in a commodity market where such moves often signal a major shift in outlook.

The shift came as global markets digested the news that Trump had brokered a cease-fire agreement to end weeks of escalating violence. The president said this marked the end of what he called the “12 day war.” Oil had surged about 10 percent since mid-June, fueled by tit-for-tat strikes between Israel and Iran, including direct U.S. involvement and a retaliatory attack on an American base in Qatar. The risk premium was building—until Trump intervened.

Now that the war appears to be over, traders are reassessing the outlook. What risked becoming a full-blown energy crisis is turning into a diplomatic victory.

For U.S. households, the peace deal could translate into real savings. Lower crude prices tend to filter through to lower gasoline prices, just as summer vacation season picks up. Trump has long prioritized energy affordability and viewed oil prices as a key economic lever. With this move, he may have delivered both geopolitical stability and a break for American wallets.

more
https://www.breitbart.com/economy/2025/06/24/peace-dividend-oil-market-celebrates-trump-brokered-peace-as-prices-drop-below-70/

[catfish1957]

Saying or suggesting this is one thing.  If he starts getting zealous and invoking price controls.  That''s a line he better not damned cross.