Business
Even if Oil Hit $200 a Barrel, War Would Have Been Worth It
President Trump said he was surprised the price of oil hadn’t been driven higher by the Iran war, but even if it reached $200 a barrel, the conflict was worth it. “I thought oil prices would go to $200, $250,” Trump told reporters in the Oval Office. “You’re surprised and I’m surprised. But even if it went to $200, it would have been worth it.”
The war has disrupted the energy industry, sending prices higher. Brent crude, the global benchmark, jumped to over $100 a barrel from about $75 a barrel after the conflict started and was about $101 on Wednesday. Gas prices in the U.S. topped $4.50 a gallon, the AAA said Wednesday, the highest they’ve been since July 2022.
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