PiCK
Trump Says Oil Is Below Pre-Iran Denuclearization Level as Gasoline Prices Fall
Minseung Kang
Summary
- President Trump said gasoline prices are falling quickly and that West Texas Intermediate (WTI) is at $69 and declining.
- Trump emphasized WTI at $69 and linked the drop in energy prices to his foreign policy record.
- Global oil and gasoline prices are major factors affecting U.S. consumer inflation, household perceptions of the economy, risk-asset sentiment, and expectations for easing inflation pressures.
Forecast Trend Report by Period
President Donald Trump said in a Truth Social post on June 29 that gasoline prices are falling quickly.
West Texas Intermediate crude is at $69 and declining, he wrote, adding that the price is below where it stood before Iran's denuclearization began.
Trump did not provide a specific national average gasoline price in the post. He emphasized WTI's drop to $69 and tied lower energy prices to his foreign policy record.
Global oil and gasoline prices are major factors for U.S. consumer inflation, household perceptions of the economy and risk-asset sentiment. A continued decline in energy prices could also affect expectations for easing inflation pressures.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.