Trump says oil flows from the Middle East are recovering, blaming the rise in gasoline prices on refineries
Quick Look
- US President Donald Trump said in a statement on social media that oil shipments from the Middle East have accelerated again and that the increase in gasoline prices is not related to the security of the Strait of Hormuz.
- Trump claimed that the increase in prices was due to Ukraine's attacks on Russian refineries and the closure of some refineries in the United States, and especially criticized the Democratic administration in California.
AI-generated summary
Why It Matters
US President Donald Trump tried to explain the sources of the increase in gasoline prices in his statement on his social media account. Trump said that oil shipments from the Middle East have accelerated again and that this situation is no longer related to security risks in the Strait of Hormuz. He also stated that Ukraine's attacks on refineries in Russia and the closure of some refineries in the United States contributed to the increase in prices.
US President Donald Trump made a statement on his social media account regarding the rise in fuel prices.
Trump stated that oil shipments from the Middle East have accelerated again and claimed that the source of the increase in gasoline prices is no longer the Strait of Hormuz.
Arguing that refinery capacity is effective on prices, Trump drew attention to Ukraine's attacks on Russian refineries and the closure of some refineries in the USA. Trump especially criticized the refinery closures in the Democrat-run state of California and blamed the Democratic administration in the state for high gasoline prices.
OIL FLOW FROM HÜRMÜZ HAS RECOVERED
Trump's statement comes as oil shipments from the Middle East have rebounded significantly in recent weeks. According to Reuters, based on Kpler data, crude oil and condensate exports from the Middle East reached an average of 18.3 million barrels per day in September, exceeding pre-war levels on 14 days of the month. However, security risks and problems in tanker traffic in the Strait of Hormuz have not completely disappeared.
RUSSIAN REFINERIES ARE TARGETED BY UKRAINE
On the other hand, Ukraine has recently increased its attacks on Russian oil refineries in order to weaken Russia's war economy and energy revenues. Ukrainian President Volodymyr Zelensky said in a statement on October 3 that Russian refineries will continue to be targeted. The US administration, on the other hand, calls on Kiev to limit attacks on Russian oil facilities due to its impact on global fuel prices.
What to Watch
AI outlook — possibilities, not facts
The recovery of oil flows from the Middle East may alleviate some pressures on gasoline prices in the short term.
Possible · Within weeks
If Ukraine's attacks on Russian refineries continue, this could trigger new increases in global fuel prices.
Possible · Within months
Open Questions
- How long will it take for the recovery of oil shipments from the Middle East to offset the rise in prices?
- How long and at what intensity will Ukraine's attacks on Russian refineries continue?
- How long will refinery closures within the US have an impact on gasoline prices and who makes these decisions?
