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Consequences of war in Iran, Trump: Oil prices will be high for a while!
2026-03-03 20:33:13 / BOTA
US President Donald Trump has said oil prices could remain high as US-Israeli attacks on Iran continue, which German Chancellor Friedrich Merz warns is "harmful to our economies".
The US president has stated that once the situation in Iran is over, oil prices will fall, and according to him, lower than they were before, Anadolu Agency reports.
"If we have slightly higher oil prices for a short time, but once this is over, those prices will fall, I believe, even lower than before," President Trump said.
But German Chancellor Merz has reiterated that he hopes the fighting in Iran will end as soon as possible, because oil prices are hurting the economy.
"This, of course, is hurting our economies. That's true for oil prices, and that's true for gas prices. That's why we all hope that this war will end as soon as possible," German Chancellor Merz said.
Global oil prices have risen sharply as Iran continues its attacks in the Middle East, in response to the ongoing offensive by the US and Israel.
Brent crude rose 10 percent to above $82 a barrel on Monday after at least three ships were attacked near the Strait of Hormuz over the weekend. Natural gas prices have risen as much as 25 percent.
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