Trump hits back at critics as Iran deal pushes oil and gas prices lower
Trump shared his comments on Truth Social while returning from the G7 summit in France. He described critics who said he had not been tough enough on Iran as “fools”.
The president highlighted strong stock market performance and falling oil prices after the agreement. He said global oil prices were “tumbling” and called critics “either jealous, bad people, or stupid.”
The agreement includes plans to reopen the Strait of Hormuz and ease maritime restrictions. Officials believe the move could help stabilize global energy markets.
Trump signed the memorandum at the Palace of Versailles after attending the G7 summit. Video footage shared by his aides showed world leaders applauding after the signing.
According to data from AAA, the national average gas price in the United States dropped to $3.99 per gallon. This is the first time prices have fallen below $4 in nearly three months.
Gas prices had climbed above $4.50 per gallon last month during the conflict. Despite the recent decline, prices remain more than $1 higher than pre-war levels.
Also read: US Releases Official Agreement With Iran — Read the Full 14-Point Text
Brent crude futures fell to $77.8 per barrel following news of the agreement. Earlier this month, global benchmark oil prices had reached around $94 per barrel.
Oil prices are still slightly above pre-war levels of around $70 per barrel. Analysts say the reopening of the Strait of Hormuz could further ease supply concerns.
US stock futures moved higher after details of the agreement emerged. S&P 500 futures gained nearly 0.9%, while Dow futures rose 0.5%.
Technology stocks led the rally, with Nasdaq futures jumping more than 1.5%. Investors appeared encouraged by signs of reduced geopolitical tensions.
The Iran deal has faced criticism from both supporters and opponents of the conflict. Some lawmakers and political commentators argued that key details remain unclear.
Republican Senator Bill Cassidy described the administration’s handling of the conflict as “the worst foreign policy blunder in decades”. Conservative commentator Ben Shapiro called the agreement a “disaster”.
Former Trump adviser Steve Bannon criticized the proposed $300 billion reconstruction fund for Iran. Democratic Senator Chris Murphy also questioned the agreement and said it represented a major policy failure.
Falling oil prices and lower gas costs suggest that markets expect reduced tensions in the region. Investors are closely watching whether both sides follow through on their commitments.
The agreement may provide short-term economic relief through lower energy prices. However, political opposition in the United States could shape how the deal moves forward.
