Trump Claims US Holds World's Largest Oil Reserves, Invites Global Buyers

Washington D.C. US President Donald Trump has claimed that the United States possesses the world's largest and highest-quality oil reserves, inviting buyers from across the globe. In a post on his social media platform 'Truth Social', Trump asserted that the US holds more oil than the world's two largest oil economies combined.

He noted that a large number of empty oil tankers are heading toward the US and urged customers to 'come quickly'. According to Trump, American oil is the 'sweetest' and of the highest quality in the world.

Trump's statement comes at a time when global oil prices have seen significant volatility due to the conflict between the US-Israel and Iran. Recently, the price of Brent crude oil exceeded $111 per barrel.

However, following a conditional two-week ceasefire agreement between the US and Iran, oil prices have dropped by approximately 15 percent.

The closure of the Strait of Hormuz had caused a sharp rise in the prices of petrol, diesel, gas, and food items worldwide. While the ceasefire has provided some relief, crude oil prices remain higher than they were before the conflict began. Prior to the start of the conflict on February 28, oil prices were hovering around $70 per barrel.