Trump Says Oil Prices Could Stay the Same or Rise Further by Fall

[Financial News] US President Donald John Trump said in a Fox News interview on the 12th (local time) that when asked whether oil and gasoline prices would fall by this fall, "They could go down, they could stay about the same, or they could go up a little. Overall, they will probably be at about the same level."
Consumers are already feeling higher prices. According to fuel price analysis firm GasBuddy, gasoline prices in most parts of the United States of America (US) have risen above $4 per gallon (about 6,000 won) since April. This level is widely seen as a psychological threshold at which consumers begin to feel the burden and start cutting back on spending.
The situation was very different as recently as February, just before the war. At that time, the average US gasoline price had not exceeded $3 per gallon, and over the past year it had rarely gone above $3.25. In a short period, perceived living costs have risen sharply.
Even so, President Trump has further escalated pressure on the Islamic Republic of Iran. After end-of-war talks held in Islamabad, Islamic Republic of Pakistan, on the 11th and 12th collapsed, he announced on the social media platform Truth Social that he was initiating procedures to blockade ships passing through the Strait of Hormuz. United States Central Command (CENTCOM) also stated that the blockade would begin at 10 a.m. on the 13th (11 p.m. Korea time on the 13th).
This move is seen as a strategy to impose a counter-blockade against the Islamic Republic of Iran, which controls logistics in the Strait of Hormuz. The aim is to cut off Iran's crude oil exports and squeeze its financial lifeline.
Markets, however, are worried about a paradoxical outcome. A blockade of the strait could restrict global crude supply and push international oil prices even higher. Analysts warn that while the measure is intended to pressure the Islamic Republic of Iran, it could boomerang by driving up energy prices within the US.

km@fnnews.com Kim Kyung-min Reporter