President Donald Trump of the United States has outlined his position on how global oil prices could decline, stating that a US withdrawal from Iran would trigger a sharp drop.
Trump said that once the United States exits Iran, the global price of crude oil would fall rapidly.
During an interview on Tuesday, when asked how he intended to reduce oil prices, he responded, “All I have to do is leave Iran – and we’ll be doing that very soon.”
He added that prices would begin to decline quickly.
Meanwhile, US Secretary of State Marco Rubio stated in an interview on Fox News that the United States has minimal reliance on the Strait of Hormuz.
He emphasized that countries around the world should take greater responsibility in ensuring the uninterrupted flow of oil and gas exports.
“We don’t rely much on the strait.
“So if, in fact, Iran decides to set up a toll, or if they decide to illegally control the Strait of Hormuz, or try to do something like that, I imagine that would be the president’s decision – whether he wants to help or not. But this is a problem for the world.
“Countries around the world should take action and clearly say that certain situations are not acceptable, which is what we have encouraged them to do,” said the Secretary of State.
Earlier on Tuesday, President Trump also indicated that the United States would not remain in Iran for more than three weeks and a few days.
