Trump Eyes Iraq Oil Deals, Vows Lower Prices After CPI Win
Trump met Iraq's PM and promised major oil deals, cheaper prices, and took a victory lap on inflation data.
Trump sat down with Iraq's prime minister in the Oval Office and made one thing crystal clear: the U.S. wants oil, and a lot of it. He said Washington plans to strike major deals with Baghdad and pull significant crude volumes out of the country. If you're trading energy, that's a headline you don't ignore.
On prices, Trump doubled down — saying they'll go "much lower yet." He's clearly linking the oil push to his broader inflation narrative. And speaking of inflation, he called the latest CPI report "incredible," signaling he sees the data as validation of his economic approach. Traders who faded the soft inflation trade just got another gut punch.
Read more Cybersecurity Stocks Surge After IBM CEO Flags AI Spending Shift →
Trump also weighed in on the Strait of Hormuz, saying no country should be able to charge a fee for passage through the waterway. He claimed Gulf states reached out offering to invest in the U.S. instead of paying such tolls — a geopolitical angle worth watching for anyone in energy or Middle East-exposed assets.
On Iran, Trump said he gave them a chance at a deal, adding bluntly: "They shot first. It was a big mistake." He also floated the idea that Iran and Hezbollah could be added to a Russia sanctions bill, which would escalate pressure across multiple fronts simultaneously. A Thursday speech on elections is also expected.
Continue reading at Forexlive.
