- Trump says rising oil prices benefit the U.S., but stopping Iran’s nuclear threat comes first.
- The Iran war echoes Iraq’s 2003 WMD claims, yet Trump cites real nuclear threats this time.
- Bitcoin surges as Iranians convert rials amid sanctions, showing crypto’s crisis resilience.
Amid escalating tensions in the Middle East, President Donald Trump argued that rising oil prices ultimately benefit Americans. On Truth Social, he stated, “The United States is the largest oil producer in the world, by far, so when oil prices go up, we make a lot of money.”
However, Trump stressed that stopping Iran from obtaining nuclear weapons takes priority. He added, “I won’t ever let that happen! Thank you for your attention to this matter.” The remarks came as oil prices briefly surpassed $100 a barrel before easing to $98, reflecting market jitters over the ongoing U.S.-Israeli Operation Epic Fury.
Earlier, Trump framed the short-term spike as a necessary tradeoff. He wrote on March 9, “Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace.” Hence, the administration positions rising energy costs as temporary while emphasizing geopolitical security over economic disruption.
Related: Trump Says Iran War ‘Pretty Much Complete’ as Oil Crashes, Markets Rally
Oil, War, and Historical Parallels
The situation echoes the 2003 U.S. invasion of Iraq, when the Bush administration claimed Saddam Hussein possessed weapons of mass destruction. Critics accused Washington of pursuing oil interests under the WMD pretext. Similarly, Trump insists the Iran operation addresses a genuine nuclear threat, citing new facilities and Tehran’s regional ambitions.
Yet, senior officials acknowledge that controlling Iran’s vast oil reserves, the world’s third largest, aligns with U.S. production’s impending long-term decline. Jarrod Agen noted during an appearance on FOX Business, “Our goal is to get all of the oil out of the hands of terrorists,” illustrating economic and security overlap.
Crypto Emerges as an Unexpected Refuge
Meanwhile, cryptocurrencies react dynamically to the crisis. As of writing, Bitcoin surged past $71,000 following Trump’s comments, while Ethereum and Solana also gained.
Related: We Want to Be Dominant in Crypto,’ Trump Says as Market Rallies
As a result, cryptocurrencies are becoming a safe backup when traditional banks and financial systems struggle during geopolitical crises. In Iran, for example, people rushed to Nobitex, the country’s largest crypto exchange, and crypto outflows jumped by 700%.
People and even some governments were using their rials to purchase Bitcoin. This indicates that decentralized finance can help in cases of frozen bank accounts or in situations where sanctions have been imposed.
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