Trump Says Oil Prices Will Drop Once Iran Conflict Ends

US President Donald Trump said Sunday that global oil prices will fall once the conflict with Iran concludes, predicting the war will end "soon" and that prices will "plummet" when Iran gives up. Trump claimed fuel costs are already lower than under former President Joe Biden and that a record volume of oil was extracted overnight, surpassing pre-war production levels. His remarks follow his rejection of a proposed agreement regarding the Strait of Hormuz. Iranian Foreign Minister Seyyed Abbas Araghchi said Tehran is awaiting mediators to convey the US President's "definitive opinions" before making a decision. Reports citing US officials suggest Trump expects to resume bombing Iran after the November midterms.