{"id":2577521,"date":"2026-03-09T05:56:02","date_gmt":"2026-03-09T09:56:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-prices-near-120-a-barrel-as-trump-calls-it-small-price-to-pay-for-peace\/"},"modified":"2026-03-09T05:59:16","modified_gmt":"2026-03-09T09:59:16","slug":"oil-prices-near-120-a-barrel-as-trump-calls-it-small-price-to-pay-for-peace","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-prices-near-120-a-barrel-as-trump-calls-it-small-price-to-pay-for-peace\/","title":{"rendered":"Oil prices near $120 a barrel as Trump calls it \u2018small price to pay\u2019 for \u2018peace\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Foil-prices-near-120-a-barrel-as-trump-calls-it-small-price-to-pay-for-peace%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2577521&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Amid escalating conflict in the Middle East involving the United States, Israel, and Iran, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ukraine-invasion-pushes-oil-prices-highest-since-2014-gas-prices-could-soar-even-higher\/\" title=\"Ukraine Invasion Pushes ... Highest Since 2014, ... Could Soar Even Higher\">oil prices surged<\/a>, with Brent crude briefly climbing to about $120 a barrel before retreating to around $110. The spike pushed prices about 50% higher than before the conflict, marking the highest level as the COVID-19 pandemic in 2022. President Donald Trump used Truth Social to describe the price rise as a \u201csmall price to pay\u201d for peace, suggesting the increase would serve a greater good, while critics warned about the burden on consumers. U.S. energy Secretary Chris Wright, in an interview with CNN, said the higher prices should be temporary and that costs would likely return to <a href=\"https:\/\/amzn.to\/3YuVZYV\" >pre-war levels<\/a>, noting the week\u2019s record price movements. The report also cites concerns about Iran-Russia cooperation and warns that expanding missile and nuclear capabilities could have wide economic and energy implications.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Oil prices near $120 a barrel as Trump calls it &lsquo;small price to pay&rsquo; for &lsquo;peace&rsquo;<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2522812\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Oil prices soared on Monday amid the ongoing conflict between the United States, Israel, and Iran. The <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.nytimes.com\/2026\/03\/08\/business\/energy-environment\/oil-100-dollars-barrel.html\">price<\/a> of Brent Crude, the world&rsquo;s benchmark for crude oil, <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.nytimes.com\/2026\/03\/08\/business\/energy-environment\/oil-100-dollars-barrel.html\">reportedly<\/a> climbed to $120 a barrel for a period on Monday before later <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.trendingtopics.eu\/oil-surges-past-110-as-middle-east-conflict-chokes-global-supply\/\">dropping<\/a> to around $110. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/oil\/\">Oil<\/a> prices are now &ldquo;50% more expensive&rdquo; than before the conflict began. <\/p>\n<p>The increase reportedly marks the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/green-new-inflation-u-s-producers-add-rigs-at-sluggish-pace-despite-soaring-oil-prices\/\" title=\"Green New Inflation: U.S. Producers Add Rigs At Sluggish Pace Despite Soaring ...\">highest oil price<\/a> since the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/covid-19\/\">COVID-19<\/a> pandemic in 2022.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/4483115\/economy-lost-jobs-february-key-facts-figures\/\">Economy lost 92,000 jobs in February: The key facts and figures<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/4480009\/mark-kelly-trump-flailing-ignores-affordability-for-iran\/\">Mark Kelly says Trump is &#8216;flailing&#8217; as he ignores affordability for Iran conflict<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>With oil prices rising and people beginning to express their displeasure with the soaring costs, President <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\">Donald Trump<\/a> took to Truth Social to address these concerns, calling it a &ldquo;small price to pay&rdquo; for the greater good of &ldquo;peace&rdquo; in the world.<\/p>\n<p>    <iframe src=\"https:\/\/truthsocial.com\/@realDonaldTrump\/116196014942465383\/embed\" class=\"truthsocial-embed\" style=\"max-width: 100%; border: 0\" width=\"600\" allowfullscreen=\"allowfullscreen\"><\/iframe><script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script src=\"https:\/\/truthsocial.com\/embed.js\" async=\"async\"><\/script>    <\/p>\n<p>&ldquo;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,&rdquo; <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116196014942465383\" rel=\"noreferrer noopener\">said<\/a> Trump. &ldquo;ONLY FOOLS WOULD THINK DIFFERENTLY!&rdquo;<\/p>\n<p>During an interview on Sunday on CNN&rsquo;s &ldquo;State of the Union&rdquo; with Jake Tapper, U.S. Secretary of Energy <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/chris-wright\/\">Chris Wright<\/a> spoke about the increase in oil prices. He expressed optimism that it would be only a short inconvenience and that prices would eventually return to pre-war levels. He made the comments after Tapper mentioned record-high gas price increases this week.<\/p>\n<p>&ldquo;Two of the ten-largest single-day price increases in history happened this week,&rdquo; <a target=\"_blank\" href=\"https:\/\/www.cnn.com\/2026\/03\/08\/politics\/video\/energy-secretary-wright-responds-record-high-gas-prices-iran-strikes\" rel=\"noreferrer noopener\">said<\/a> Tapper. &ldquo;The price of oil jumped 36%, the largest one-week spike since 1983. President Trump told <em>Reuters<\/em> about <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economists-bidens-policies-to-lift-oil-and-gas-prices-hurt-u-s-households\/\" title=\"Economists: Biden\u2019s policies to lift oil and gas ...s, hurt U.S. households\">gas prices<\/a>, &lsquo;if they rise, they rise.&rsquo; Is that really the message of the Trump administration to consumers who are already struggling?&rdquo;<\/p>\n<p>After noting the previous lows in gas prices during Trump&rsquo;s second term and the administration&rsquo;s commitment to lowering fuel and energy costs, Wright said he envisions costs dropping again in the near future.<\/p>\n<p>&ldquo;Gasoline today is still $1.50 a gallon cheaper than it was in the middle of the Biden administration,&rdquo; Wright <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.cnn.com\/2026\/03\/08\/politics\/video\/energy-secretary-wright-responds-record-high-gas-prices-iran-strikes\">said<\/a>. &ldquo;But you&rsquo;re right, we want it back below $3 a gallon, and it will be again before too long.&rdquo;<\/p>\n<p>Wright elaborated when Tapper questioned what he meant by &ldquo;before too long.&rdquo;<\/p>\n<p><strong><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/world\/4484729\/iran-russia-us-war-intelligence-sharing\/\">IRAN-RUSSIA PARTNERSHIP &lsquo;WILL CONTINUE,&rsquo; IRANIAN FM SAYS WHEN ASKED ABOUT WAR INTEL<\/a><\/strong><\/p>\n<p>&ldquo;You never know exactly the time frame of this,&rdquo; Wright said. &ldquo;In the worst case, this is a weeks, this is not a months thing.&rdquo;<\/p>\n<p>&ldquo;Iran has continued to build up their capabilities,&rdquo; he said. &ldquo;First, a massive expansion of their missile program, so that they can shield the completion of their nuclear program.&rdquo;<\/p>\n<p>&ldquo;It is simply unacceptable for the United States, for the Middle East geography, and for the world economy, to have a terrorist regime with nuclear weapons and a gigantic missile arsenal,&rdquo; Wright added. &ldquo;They <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/turkeys-state-run-energy-agency-raises-prices-by-up-to-125-as-inflation-crisis-continues\/\" title=\"Turkey\u2019s State-Run Energy Agency Raises ...s By Up To 125% As Inflation Crisis Continues\">raised energy prices<\/a> for Americans for decades. It&rsquo;s finally going to come to an end.&rdquo;<\/p>\n<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil tops $120\/barrel; Trump: &#8216;small price for peace<\/p>\n","protected":false},"author":2677,"featured_media":2577522,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/03\/image-collage-losi7hh54-1773047433190-e1773047475220.jpg?1773033084&amp;w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[32404,75385,3634],"class_list":["post-2577521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-geopolitics","tag-oil-prices-2","tag-trump"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/03\/image-collage-losi7hh54-1773047433190-e1773047475220.jpg?1773033084&amp;w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2577521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2677"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2577521"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2577521\/revisions"}],"predecessor-version":[{"id":2577525,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2577521\/revisions\/2577525"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2577522"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2577521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2577521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2577521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}