Trump assessed the fall in oil prices: It is good to end the war

US President Donald Trump said the current drop in oil prices is good for resolving the Russia-Ukraine war, he told reporters at a White House event.

"But I think Russia, with the price of oil right now, oil has gone down... I think we're in a good position to settle [the war]," Trump said.

In his opinion, Russia and Ukraine want a peace settlement. The politician also once again stated that "nobody would be settling" if he were not president.

In January, Trump's special envoy Keith Kellogg said that economic measures, including lower oil prices, could force Russia to end the war.

And in April, US Energy Secretary Chris Wright, during a visit to Saudi Arabia, claimed that energy prices under this administration would be lower than under the previous one.

• On May 3, the eight OPEC+ cartel countries – Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman – agreed to increase oil production in June by 411,000 barrels per day compared to May (more on the reasons here).

• On May 5, the price of oil fell below $60 per barrel for the first time since 2021: Brent futures fell to $59.08 (-3.6%), and WTI to $56.00 (-3.9%).