The price of oil is influenced by the war with Iran, but the conflict in turn has an impact on the cost at the pump, says a political analyst.
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Donald Trump once again raised his voice against Iran on Wednesday, announcing the end of the ceasefire due to the resumption of hostilities.
“The president’s geopolitical strategy is constrained by an essential element: the Americans’ ability to pay at the pump. And there, the reason why we perhaps seem to be heading towards a resumption of hostilities is perhaps because the price of oil has fallen drastically in recent weeks,” explained Georges Mercier, doctoral student in political science at Sciences Po Paris, on Wednesday, in an interview with LCN.
On Wednesday, the price of a barrel of Brent was almost $72, while it climbed to around $120 this spring. The latter, however, is not yet quite at the level it was in January, when it was a little over $60.
“With a lower oil price, it gives the president room to maneuver because he could afford to restart hostilities for a week or two without necessarily affecting the Americans’ wallets,” maintains Georges Mercier.
The ability of the American population to pay for Donald Trump’s geopolitical ambitions really dictates the president’s actions.
“So, with a lower price per barrel, if it remains low, perhaps the president has options that were not available to him three weeks or a month ago,” says the political analyst.
To see the full interview, watch the video above.
