Trump says he has 'a plan' to address surging oil prices caused by Iran war: Report

US President Donald Trump said Monday that he has a plan to address surging oil prices driven by the ongoing war with Iran, but offered no details.

"I have a plan for everything. You'll be very happy," he told the New York Post on day 10 of the US-Israeli offensive on Iran.

Oil prices have spiked sharply since the joint attacks on Iran began last Saturday, with Brent crude briefly reaching $119 a barrel overnight, its highest level since the beginning of Russia-Ukraine in 2022, before easing back to around $100.

Trump earlier declined to rule out seizing Iranian oil to ease supply concerns, telling NBC News that "certainly people have talked about it" but that it was too soon to discuss the matter.

The price surge has been driven largely by disruption to shipping through the Strait of Hormuz, through which around 20 million barrels of oil normally pass daily.

"I don't have any concern about it," he said, when asked about the higher prices at ‌the pump. "They'll drop very rapidly when this is over, and if they rise, they rise, but this is far more important than having gasoline prices go up a little bit."

Critics have accused Trump of failing to explain to the public or lawmakers his reasons or goals for launching the war.