Trump: US benefits from high oil prices, but priority is stopping Iran - Reuters
Trump: US benefits from high oil prices, but priority is stopping Iran Reuters
Coverage by Political Leaning
See how different sides of the spectrum reported this story
Notable Quotes
"US benefits from high oil prices, but priority is stopping Iran."
— Trump , Politician
"We’ve got a lot of oil. Our country has a tremendous amount."
— Donald Trump , Politician
"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible."
— Donald Trump , Politician
"We’re uniquely able to move cargoes with our own vessels in this market."
— Mike Sabel , Executive
"The European [gas] benchmark soared 90% in the past two days, and Asia’s [benchmark] also jumped."
— Pavel Molchanov , Academic
"Because China is the leading importer of both Middle Eastern oil and Qatari natural gas, it should only be a matter of time before China pressures Iran to let volumes flow through the strait."
— Mathieu Utting , Academic
Key People
Former president of the United States known for his aggressive economic policies.
Mathieu Utting is a global gas and LNG analyst for Rystad Energy.
Mike Sabel is the CEO of Venture Global, a leading U.S. LNG exporter.
Pavel Molchanov is an investment strategy analyst at Raymond James.
Pete Hegseth is the United States Secretary of Defense.
A special envoy involved in negotiations with Iran.
Donald Trump is the former President of the United States.
Tags
All Coverage
<a href="https://news.google.com/rss/articles/CBMisAFBVV95cUxNUzFWZE5sSGRCeEVlbzh2bFU1a2d2OThxLXRQaXJuOUducjFyU2NkVzJFeTV1Q2xuWkdFSXFIdkNhRUk4c0FLQXhEQmwyRUstUWx6QUtKMVhURkR1Y05EYnJneEY1RUw4MzZDM3J2ZE50RHppZTA1SkExTm11R0NLTjlPdE1STzRCbkJpQjJCVGZwMW91dGRMTlRjQThmZ1RpemJyX0o2M0k5T1BtOTlMOQ?oc=5" target="_blank">Trump: US benefits from high oil prices, but priority is stopping Iran</a> <font color="#6f6f6f">Reuters</font>
As oil prices surge following the U.S. and Israel's war against Iran, President Trump is resisting calls to tap the Strategic Petroleum Reserve (SPR) to ease market pressure, emphasizing that the U.S. has abundant oil and downplaying concerns despite rising gasoline prices for American consumers.
U.S. oil and gas exporters are benefiting from higher prices due to the Iran conflict but cannot fill the supply gap caused by the effective closure of the Strait of Hormuz, as they are already operating near capacity, leading to larger profits but not increased exports.
Similar Stories
Related coverage based on topic and tags
Trump urges Americans to accept higher gas prices as he escalates Iran rhetoric - Reuters
Trump urges Americans to accept higher gas prices as he escalates Iran rhetoric Reuters
August 14, 2026 at 09:52 PMOil climbs as fading US-Iran peace hopes raise supply risks - Reuters
Oil climbs as fading US-Iran peace hopes raise supply risks Reuters
August 18, 2026 at 01:13 AMOil steadies after US threatens indefinite blockade of Iran - Reuters
Oil steadies after US threatens indefinite blockade of Iran Reuters
August 14, 2026 at 01:36 AMOil set for weekly gains after US threatens indefinite blockade of Iran - reuters.com
Oil set for weekly gains after US threatens indefinite blockade of Iran reuters.com
August 14, 2026 at 11:03 AMUS eyes indefinite Iran naval blockade as oil supply shortfall deepens - Reuters
US eyes indefinite Iran naval blockade as oil supply shortfall deepens Reuters
August 13, 2026 at 10:01 PMTrump wants more economic pressure on Iran. What are his options? - Reuters
Trump wants more economic pressure on Iran. What are his options? Reuters
August 16, 2026 at 11:34 AM