Trump: 'Everyone, Keep Oil Prices Down'

Oil prices have remained relatively stable despite US strikes on Iranian nuclear sites—and President Trump wants them to stay that way.

• "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING!" Trump wrote in a Truth Social post Monday. "YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!
• In a follow-up post, Trump wrote, "To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!"
• The Hill notes that the Department of Energy is "primarily a research and funding agency," and the US doesn't have a state-run oil company that the president can order to drill.

Oil prices are higher than they were a week ago, and the highest since January, but investors appear to be waiting to see how Iran retaliates, with potential moves including the closure of the Strait of Hormuz, reports NBC News. Iran's parliament has approved closing the shipping lane, which would affect the transport of around a fifth of the world's oil and gas, but the final decision will rest with the country's national security council. UBS analysts say there is "a wide range of outcomes for oil prices in the next few weeks," including a possible drop depending on Iranian retaliation, NBC reports. (More US strikes Iran stories.)