Trump Highlights Oil Price Drop Tied to Iran’s Supposed Denuclearisation

During the same Oval Office appearance, President Donald Trump connected the potential Iranian denuclearisation to a noticeable decline in global oil prices. He pointed out that oil had fallen to about $69 per barrel, a level he described as "much lower" than before Iran’s alleged commitment to abandon nuclear weapons.

"Oil prices have dropped significantly," Trump said, suggesting that the market reaction was a direct result of the diplomatic progress in Doha.

The president made these remarks while signing a presidential memorandum that directs the Environmental Protection Agency (EPA) to support consumer‑driven vehicle repairs and to foster competition in the aftermarket auto‑parts sector.

EPA Administrator Lee Gebhard explained that the memorandum would protect Americans’ right to fix their own cars, curb monopolistic practices in California’s parts certification, and increase choice for consumers.