Trump warns of rising oil prices: But when the war with Iran ends...

Donald Trump

US President Donald Trump has stated that the increase in oil prices will be temporary, during the war with Iran, but assured that "once this is over, they will fall even lower than before."

"People thought it was something that needed to be done," he told reporters as he justified taking action.

"So if we have slightly higher oil prices for a while... once this is over, those prices will come down. I believe they will be lower than before," the US president declared.

Oil prices have risen gradually since the start of the war and economists have warned that they are likely to continue to do so if the conflict continues.

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