US President Donald Trump said Thursday that his administration would soon announce measures concerning diesel, without specifying what they would involve.
Speaking at a Columbus Day celebration at the White House, Trump praised Energy Secretary Chris Wright as “the best energy man in the country” and said: “We have a big announcement coming up on diesel.”
“We’re going to be knocking the hell out of it,” Trump said, adding that prices would “come tumbling” and that the conflict would be over soon, “one way or the other.”
Trump also claimed that 28 million barrels had been “taken out” the previous day, saying he believed the amount exceeded what had been taken out at any point, including before the war.
The United States and Israel launched a war against Iran on Feb. 28. Tehran responded with missile and drone attacks in the region and effectively closed the Strait of Hormuz, a key route for global energy supplies.
The conflict has continued for more than seven months, pushing up global energy prices as commercial oil traffic through the strait has effectively halted.
A memorandum of understanding was signed by the United States and Iran in June following mediation efforts by Pakistan and Qatar, with the aim of halting hostilities and paving the way for negotiations. Its implementation has since stalled amid disagreements, including over security and navigation in the Strait of Hormuz.