US President Donald Trump predicted that oil prices will soon dip below $60 per barrel, despite current market levels where West Texas Intermediate crude trades above $63 and Brent crude exceeds $67.
Trump highlighted that both energy and food prices in the United States have declined since the beginning of his second term last January, framing the trend as a sign of economic resilience.
His remarks come as global energy markets face mounting pressure from sluggish economic growth, weaker demand outlooks, and surging US shale production, which has capped any significant upward movement in prices.
Since the start of the year, oil prices have witnessed sharp swings, caught between escalating geopolitical tensions in the Middle East and persistent fears of a global recession.
Meanwhile, the OPEC+ alliance continues efforts to stabilize the market through coordinated production cuts.
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