Trump seeks a way out to avoid a new energy crisis

"Gasoline prices have climbed 17% in the last week and diesel 22%, reaching levels not seen since 2014, at around $3.50 per gallon. The turmoil in the energy markets threatens to deliver another significant blow to his economic policy, following the Supreme Court's setback to tariffs: Trump had made combating inflation and lowering fuel prices one of his top priorities."

"During an interview on CBS, he asserted that the Iran war is virtually over, words that seem to have worked like a charm, because the markets immediately reacted with euphoria. The stock market, which had been trading in the red, has returned to positive territory. West Texas Intermediate (WTI) crude oil, which reached nearly $120 per barrel in the early hours of the morning, dropped below $90."

"The U.S. president's words come despite his statement just three days earlier that there will be no agreement without the unconditional surrender of the Tehran regime, something that doesn't seem easy to come by. So the effect of Trump's spell may be ephemeral if it isn't backed up by action. The formidable volatility in the energy market only confirms the hysteria of investors."

Gasoline prices have surged 17% in one week and diesel 22%, reaching levels unseen since 2014 at approximately $3.50 per gallon, undermining Trump's priority to combat inflation and lower fuel costs. During a CBS interview, Trump stated the Iran war is virtually over, causing immediate market euphoria: the stock market recovered from negative territory and crude oil dropped from nearly $120 to below $90 per barrel. However, this contradicts his earlier statement three days prior demanding Tehran's unconditional surrender. The market's extreme volatility reflects investor hysteria. Trump previously claimed in his State of the Union address that his administration reduced inflation to five-year lows and lowered gas prices from over $6 to below $2.30 per gallon in most states, contrasting sharply with current price increases.

Read at english.elpais.com