President Donald Trump made clear Thursday that his administration’s primary concern in the ongoing conflict with Iran is nuclear weapons, not the soaring oil prices rattling global markets. In a post on his Truth Social platform, Trump stated that halting Iran’s nuclear ambitions is of “far greater importance” to him than any economic fallout from the energy crisis. The declaration came as global oil markets recorded one of their most turbulent sessions in years.
Brent crude briefly surpassed $100 a barrel on Thursday, rising as much as 10% amid continued disruption to Middle Eastern energy supply. West Texas Intermediate also surged, approaching $96 per barrel before retreating slightly. The International Energy Agency characterized the war’s effect on global oil markets as the largest supply shock ever recorded, with Gulf producers cutting output by roughly 10 million barrels per day — equal to nearly a tenth of worldwide demand.
Trump argued that America’s position as the world’s largest oil producer means the country stands to gain financially from elevated prices. Despite this, he emphasized that his personal and presidential priority lies in confronting what he described as an evil empire seeking nuclear capability. His Truth Social post concluded with a firm declaration that he would never permit Iran to develop nuclear weapons.
The president’s framing of the conflict as a nuclear security mission rather than an oil war carries significant geopolitical implications. It suggests the administration is prepared to sustain military operations regardless of the economic consequences, a position that could alarm oil-importing nations already struggling with supply disruptions. Trump’s statements have nonetheless been mixed, with him simultaneously describing the war as approaching its end and saying American forces are not yet done.
The IEA announced the coordinated release of 400 million barrels of emergency oil reserves from member nations to help cushion the price shock. The US has also committed 172 million barrels from its Strategic Petroleum Reserve. These interventions have provided limited relief, with markets remaining deeply unsettled as the conflict continues.