this post was submitted on 08 Mar 2026
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politics

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Crude oil prices surged above $100 per barrel on Sunday, after major Middle East producers cut output because the critical Strait of Hormuz remains closed due to the Iran war.

West Texas Intermediate jumped 17%, or $15.32, to $106.22 per barrel. Global benchmark Brent advanced 15%, or $14.28, to $106.92. U.S. crude oil surged about 35% last week in its biggest gain in futures trading history dating back to 1983. The last time oil prices topped $100 per barrel was after Russia invaded Ukraine in 2022.

Shortly after oil blasted past $100 at the open of trading Sunday evening, Donald Trump posted on Truth Social that a gain in “short term oil prices” was a “very small price to pay” for destroying Iran’s nuclear threat.

top 29 comments
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[–] mrmaplebar@fedia.io 2 points 3 hours ago

Anyone got any "I did that!!" stickers with Trump's dumb face on them?

[–] cyberpunk007@lemmy.ca 10 points 6 hours ago* (last edited 6 hours ago)

Small price to pay for covering up your involvement in the Epstein files you pedophile

[–] BrianTheeBiscuiteer@lemmy.world 4 points 5 hours ago

It's the same price we paid for war with Iraq which took about 20 years to become a stable and self-functioning state.

When others cause issues, it's because they are incompetent. When I cause issues, there's a really good reason

Rules for thee, not for me

[–] giantripdrop@piefed.social 15 points 9 hours ago
[–] 800XL@lemmy.world 1 points 4 hours ago

It's so easy for the child fucker to say that when I pay for his fuel usage.

[–] HeyThisIsntTheYMCA@lemmy.world 9 points 8 hours ago

i mean yeah it sucks for us but chevron's doing great. can't you see the big picture

[–] RememberTheApollo_@lemmy.world 7 points 8 hours ago (1 children)

Small price to pay… besides the US bases being targeted by missiles, the billions in defense hardware being used, refineries in neighboring countries being targeted and hit, the economy under further seige, and we haven’t yet been hit by the price increases due to transportation costs of goods.

Yeah. He left all of that out.

[–] Akasazh@lemmy.world 4 points 2 hours ago (1 children)

Also it was a small price to pay for defeating Iran , something that hasn't been achieved yet.

[–] Buffalox@lemmy.world 1 points 41 minutes ago

There is no way USA will defeat Iran in any meaningful sense.
If USA put boots on the ground, it will be many times worse than Afghanistan.
There are even more hiding places in Iran than in Afghanistan, and the population is twice as big. And the area 2½ times bigger.
On top of that, Iran is way better organized, and has several big well trained organizations that can be made ready for guerrilla almost instantly.
Third I very seriously doubt any traditional allies to USA will be willing to support such an action.
Since it's very doubtful the war can be won from the sky, the outlook for USA winning this war is bleak.

[–] SeeMarkFly@lemmy.ml 14 points 9 hours ago

Funny, Iran never bothered me before but NOW it's really bothering me.

Trump did THAT.

What that man says and what that man does is two different things.

[–] adespoton@lemmy.ca 7 points 8 hours ago (1 children)

Small price to pay for distracting people from the Epstein files.

[–] Buffalox@lemmy.world 1 points 39 minutes ago* (last edited 37 minutes ago)

Doesn't even matter if it's big or small, when he is making others pay. The price is small to him, and that's all that matters to him.
The cost to the global society and USA is already HUGE! And obviously the price is worst for the Iranian population.

[–] Frozengyro@lemmy.world 18 points 10 hours ago (1 children)

Can't wait to see stickers of trump and "I did that" on the gas pumps...

[–] GuyFawkes@sh.itjust.works 8 points 9 hours ago (1 children)
[–] adespoton@lemmy.ca 2 points 8 hours ago

That’s what HE said!

[–] piconaut@lemmy.ca 17 points 10 hours ago (3 children)

Does expensive oil help Russia? I presume that it would. Probably doesn't hurt the Muskrat either.

[–] Buffalox@lemmy.world 1 points 35 minutes ago* (last edited 33 minutes ago)

It absolutely does help Russia, I already made that point the first day of the war.
Putin sacrificed Iran to help the Russian economy.

[–] Nomecks@lemmy.ca 15 points 9 hours ago

It already is. The US gave India an exception to buy Russian oil.

[–] HeyThisIsntTheYMCA@lemmy.world 3 points 8 hours ago* (last edited 8 hours ago)

very very much so. that and potash is about all they have it feels like some days.

[–] DMCMNFIBFFF@lemmy.world 22 points 11 hours ago (2 children)

So it's kind of like a carbon tax, but only higher.

[–] HumanOnEarth@lemmy.ca 8 points 8 hours ago (1 children)

Oh man I long for the days where we were worried about the carbon tax......

It's a small comfort, knowing if this war doesn't spiral and kill us all, or if AI doesn't kill us all, or if disease doesn't kill us all, or MAGA doesn't kill us all..... there will still be catastrophic climate change waiting to.... kill us all.

Just wait until somewheres around July. I predict we see the lowest arctic ice extent on record, followed immediately by El Nino and panic around wintertime when we realize the ice free summers are now upon us in the arctic.

[–] grue@lemmy.world 3 points 8 hours ago

panic around wintertime when we realize the ice free summers are now upon us in the arctic.

Literally what Putin and Trump are looking forward to, opening up those northeast and northwest passages.

[–] HeyThisIsntTheYMCA@lemmy.world 4 points 8 hours ago

a carbon tax where oil magnates get rich

[–] Nobody@anarchist.nexus 8 points 9 hours ago

Nothing says making affordability a priority like spiking gas prices with no end in sight.

[–] Steve@startrek.website 6 points 9 hours ago

Epstein files?

[–] I_Jedi@lemmy.today 7 points 10 hours ago (1 children)

Full related tweet:

Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!President DJT

[–] floofloof@lemmy.ca 4 points 4 hours ago

Iran's nuclear threat that they claimed to have utterly obliterated with their bombing last year? That threat again? The one Netanyahu has said is just weeks away every year since 1995?

[–] vetehinen@lethallava.land 3 points 10 hours ago

@MicroWave@lemmy.world some more channeling of that "Let them eat cake" energy

@politics@lemmy.world