Oil Prices Surge; Trump: Small Price for Global Peace
WASHINGTON – Crude oil prices surged above $100 per barrel during Monday’s trading (9 March 2026). United States President Donald Trump assessed the sharp increase as merely temporary and a small price that must be paid for global security.
In a post on social media platform Truth Social, Trump stated that the current rise in oil prices would correct itself once Iran’s nuclear threat is successfully addressed.
“In the short term, oil prices are rising, but they will fall rapidly after Iran’s nuclear threat is eliminated. This is a very small price for the safety and peace of the United States and the world,” Trump wrote.
He also stressed that those viewing the situation differently do not understand the context of global security.
“ONLY FOOLISH PEOPLE THINK OTHERWISE,” he said.
The oil price surge has occurred amid mounting tensions in the Middle East, which have triggered concerns over disruptions to global energy supply. One major factor is the risk to the world’s strategically important oil distribution route, the Strait of Hormuz.
The strait serves as the primary route for approximately one-fifth of global oil trade. Instability in the region often directly triggers price increases as the market worries that oil supplies will be disrupted.
The current oil price increase is recorded as the largest since the Russian invasion of Ukraine, which had previously also shaken the global energy market. Energy analysts assess that the direction of oil prices in the near term will heavily depend on developments in the regional conflict.
According to the BBC, analysts predict the price increase could reach $150 per barrel by late March. Should tensions ease, oil prices have the potential to fall. However, if the conflict escalates or disrupts oil production and distribution, price pressure could persist longer.
The surge in energy prices itself has the potential to trigger cascading effects on the global economy, ranging from increased inflation to higher transportation and logistics costs across various countries.