Trump pressures oil companies to lower oil prices, Brent crude oil gives back gains.

US President Trump posted on social media demanding energy producers to lower oil prices, following the US military strike against Iran, which raised concerns about escalating tensions in the Middle East and led to a temporary surge in oil prices. "Everyone, lower oil prices. I'm watching! You are helping the enemy! Don't do this!" Trump roared on Monday on social media. He then urged the US Department of Energy to immediately increase production, "Drill, baby, drill!! I mean now!!" US Energy Secretary Chris Wright responded on X platform: "We are in the process of doing that." The trigger for this incident was the US joining Israel in military actions against Iran and targeting three major nuclear facilities in Iran. Iran strongly warned that it will take retaliatory actions, and may even close the Strait of Hormuz - a key waterway connecting the Persian Gulf and the Gulf of Oman, through which about a quarter of global seaborne oil passes. If the Strait of Hormuz is closed, oil prices could soar to over $130 per barrel. According to Bloomberg Economics estimates, this could put greater pressure on already inflation-eroded American households, and may also lead to political damage for Trump and the Republican Party. White House press secretary Caroline Levitt stated on Monday that the US is "actively and closely monitoring the situation in the Strait of Hormuz", and warned the Iranian regime that "deciding to block the strait would be very foolish." However, despite the escalating geopolitical tensions, concerns about immediate supply disruptions in the market began to ease, leading to a partial reversal in oil prices. The international benchmark Brent crude briefly rose to $81.40 per barrel, before falling back below $77. Trump called for increased domestic oil drilling in the US, but the actual impact is limited. In recent years, US oil companies have shown little interest in significantly increasing production, especially when the price of West Texas Intermediate (WTI) crude oil is below the production cost of certain regions. Companies tend to base their investment plans on long-term price trends rather than short-term fluctuations caused by geopolitical conflicts.