'Serious chance' - Donald Trump makes serious oil price claim amid Iran war talks

Oil prices could drop if Iran war is ended, says US president, Donald Trump.

Donald Trump has suggested the price of oil "will drop like a rock" should a deal be struck with Iran to end the war.

U.S. President Donald Trump speaks to reporters before boarding Air Force One at Palm Beach International Airport on March 23, 2026 in West Palm Beach, Florida. President Trump is traveling to Tennessee before returning to Washington. (Photo by Roberto Schmidt/Getty Images)placeholder image
U.S. President Donald Trump speaks to reporters before boarding Air Force One at Palm Beach International Airport on March 23, 2026 in West Palm Beach, Florida. President Trump is traveling to Tennessee before returning to Washington. (Photo by Roberto Schmidt/Getty Images) | Getty Images

Speaking to reporters in Florida as he boarded Air Force One, the US president said: "The price of oil will drop like a rock as soon as a deal is done. I guess it already is today."

But then the US president added caution, he said: “No, we have a very serious chance of making a deal. That doesn't guarantee anything. I am not guaranteeing anything.”

Trump suggested the US and Tehran were discussing 15 points of agreement to end the war. The Iranian regime giving up its nuclear weapons programme were points "number one, two and three".

The president wants joint control over the Strait of Hormuz, with he and Iran's supreme leader both having a stake in it.

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