Trump Accuses Iran of Driving Up Oil Prices Ahead of US Midterms

US President Donald Trump speaks into microphones in this file photograph accompanying the report on his allegations against Iran. Photo: AP

US President disputes reports of disruptions in the Strait of Hormuz and reiterates opposition to Iran acquiring nuclear weapons

Key Highlights

• Trump accuses Tehran of trying to raise global oil prices before the US midterm elections.
• He claims reports of ship attacks and mines exaggerate disruptions in the Strait of Hormuz.
• The US President maintains that oil shipments through the waterway remain above pre-conflict levels.

Washington: US President Donald Trump has accused Iran of attempting to push up global crude oil prices ahead of the upcoming US midterm elections by manufacturing reports of maritime disruptions. In a sharply worded social media post on Thursday, October 22, he claimed that oil shipments through the Strait of Hormuz remained higher than before the conflict began.

Oil Shipments at Centre of Dispute

Trump alleged that Tehran was circulating false accounts of attacks and sea mines to create uncertainty over supplies passing through the strategic waterway.

“Iran is doing everything they can to drive up the price of Oil prior to the U.S. Midterm Election,” he wrote on Truth Social.

He maintained that the volume of oil moving through the strait contradicted reports of extensive disruption. These assertions represent Trump’s account; the reported post does not independently establish shipping volumes or whether particular maritime incidents occurred.

Nuclear Warning Accompanies Criticism

Alongside his allegations over oil prices, Trump reiterated that Iran must never be allowed to acquire nuclear weapons. His remarks linked criticism of Tehran’s leadership with concerns over energy supplies and the approaching American elections, according to the ANI report.