U.S. President Trump spoke to reporters about Iran’s economy and the oil market as he left the White House to attend an opening ceremony in Baltimore.
Oil shipments through the Strait of Hormuz
Addressing shipments through the Strait of Hormuz, Trump said the strait was open. He said millions of barrels of oil had been transported over the past few days, adding that shipment volumes had reached, and even exceeded, prewar levels.
Iran’s economy and oil prices
Arguing that Iran’s economy was in very poor condition, Trump said Iran’s Oil Minister Mohsen Paknejad had described the situation in the country as bad and resigned.
Trump said he expected oil prices to decline soon and argued that all prices in the country would gradually fall as the elections approached.