Trump says oil prices will plummet once Iran conflict ends
Iran's Revolutionary Guard says it struck vessels in the Strait of Hormuz, and no US-Iran meeting is currently scheduled.
Published · Updated
Map: The Gulf and Hormuz, marking Strait of Hormuz
UpdateTuesday, September 22, 2026 at 10:55 AM ET
President Trump said the United States and Iran will reach a deal, "one way or the other."
President Trump said the United States will be able to supply allies at a much faster rate once the Iran conflict is resolved, and predicted oil prices will fall sharply as a result.
The conflict is far from settled. Iran's Revolutionary Guard says it has struck vessels in the Strait of Hormuz, and Gulf capitals have urged Trump to hold back from escalating further. Iran is conditioning any settlement on the lifting of the US military blockade and other significant concessions, and the strait remains blocked. No meeting between US and Iranian officials is currently scheduled.
Trump has made similar predictions before. He has said oil is flowing at peak levels and forecast an Iran deal after the election, and separately said Iran will never have a nuclear weapon, adding he will not give credence to the election on that matter.
Brent crude is trading around $100 a barrel, with Middle East supply concerns already easing. That level suggests markets have already priced in reduced geopolitical risk and a return of normal Iranian supply flows. Trump's forecast of a price plunge once the conflict ends offers traders no catalyst beyond what is already reflected in the price.