Middle East Eye
centerTrump says oil price spike on Iran war a 'small price to pay'
Trump says oil price spike on Iran war a 'small price to pay' US President Donald Trump dismissed the war-related spike in oil prices as a "small price to pay" amid the US-Israeli war with Iran. Oil prices surged about 20% in early trade on Monday, hitting their highest since July 2022, as the expanding US-Israeli war with Iran fuelled fears of tighter supply and prolonged disruptions to shipments through the Strait of Hormuz.
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CONFLICT OVERVIEW
Iran
Internal political tensions, regional proxy conflicts, and international standoffs regarding Iran's nuclear program and geopolitical influence.
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