Trump says Iran war oil spike will ‘drop like a rolling stone’ once fighting ends, even as crude stays above $100 and crypto trades through the turmoil.
Summary
- Trump dismisses Iran war oil spike as budget “negligible” while crude trades above $100.
- He signals more strikes are possible even as he claims to spare key Iranian oil infrastructure.
- Bitcoin and Ethereum rally, reinforcing the “digital macro hedge” narrative despite still behaving like high‑beta risk assets.
Trump is again trying to sell markets on the idea that the Iran war–driven oil spike is temporary, even as crude trades comfortably above the three‑digit threshold. In new comments flagged by Jinshi Finance, he told PBS reporters the US is “doing very well” on Iran, calling the budget impact of the conflict “negligible” because Tehran is “involved in terrorism.” He insisted that “once the war is over, oil prices will drop like a rolling stone,” echoing earlier statements that the surge in crude is a “small price to pay” for dismantling Iran’s nuclear program.
Trump also claimed he has deliberately held back from targeting key civilian energy infrastructure, saying he “left a lot of infrastructure in Tehran” and could destroy the country’s power plants “in an hour” but is trying to avoid a years‑long reconstruction process and deeper social trauma. He added that the US has kept a “100 yards” buffer around “everything related to oil facilities,” and specifically cited Kharg Island, a major Iranian export hub, saying he chose not to blow up its pipelines because “it would take years to connect them.” At the same time, he warned he would still “strike again,” signalling that escalation risk remains firmly on the table.
Those comments follow days of market turmoil as Iran‑related supply fears pushed benchmark crude above 100 per barrel and forced insurers to reprice risk in and around the Strait of Hormuz. Trump has repeatedly framed the situation as a trade‑off, arguing that short‑term pain at the pump is acceptable if it neutralizes Iran’s ability to threaten global shipping and regional stability. For now, that narrative appears to be holding with parts of his domestic base, but it does little to change the underlying reality for refiners, airlines, or import‑dependent economies that are now exposed to higher input costs and tighter margins.
Crypto markets, by contrast, are digesting the conflict with relative composure. Bitcoin (BTC) is changing hands near $73,800, up roughly 5.8% over the last 24 hours, with a 24‑hour range between about $69,460 and $73,770 and turnover above $55 billion. Ethereum trades around $2,200, higher by roughly 6.8% on the day, after swinging between about $2,042 and $2,200 in the same period. That mix of elevated volatility and net gains has reinforced the “digital macro hedge” narrative some funds are leaning into, even as skeptics point out that BTC and ETH continue to trade like high‑beta risk assets whenever energy, rates, or war headlines surprise.
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