U.S. President Donald Trump stated that he’s “watching” and urged everyone to “keep oil prices down” in a Truth Social post Monday morning.
U.S. President Donald Trump on Monday took to Truth Social to call for an immediate ramp-up in U.S. oil production, urging the Department of Energy to act swiftly and warning that elevated energy prices play into the hands of America’s adversaries.
The posts come amid renewed geopolitical tensions in the Middle East between Iran and Israel as well as continued market volatility in global energy prices. The United States Oil Fund (USO) was down 0.3% after the opening bell, after surging at least as much as 1% in pre-market trade.
“EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!” Trump wrote on his social media platform.
He followed up with another post stating, “To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!”
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