Trump is posting in all caps:
EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!
Careful out there if you’re buying oil futures — Trump will send you to Guantanamo 🙂
Crude is up about 20 cents today.
Update, as Trump now adds:
To The Department of Energy: DRILL, BABY, DRILL!!! And I mean NOW!!!
What happened to the free market?
Jokes aside, all this shows that the US won’t fight Iran on the ground and will protect their oil exports. He can’t take the pain of a war that spikes crude oil to +$100.
In terms of drilling, US oil production is on track to be flat this year at best.
This article was written by Adam Button at www.forexlive.com.