# Trump claimed oil prices would drop, but barrel surpassed $100 Rising energy prices and political rhetoric dominate the economic agenda. - **Source:** [Fortune | FORTUNE](https://brifing.si/source/769282ef-327a-4454-909a-3c7936216004) - **Published:** 2026-07-23 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/f06434bd-0c37-4e16-a371-82750bfd1437 ## Trump's Oil Prediction Donald Trump claimed at a rally in Georgia that oil prices would plummet. However, the next day, conflicts in the Middle East caused a sudden spike in oil prices. This highlighted the uncertainty in energy markets and the impact of political rhetoric. ## Inflation and Politics Trump argued that inflation was a concept invented by Democrats. Yet data shows that the 2022 inflation surge was the highest in 40 years. This has heightened voters' economic concerns and fueled political debates. ## Volatility in Oil Markets Brent crude surpassed $100 per barrel, reaching its highest level since May. U.S. crude also neared $92. This surge was driven by tensions in the Middle East and supply concerns, quickly disproving Trump's predictions. ## The Egg Price Example Trump touted falling egg prices as a success. However, economists attribute the decline to reduced poultry diseases. Settlements with egg producers also played a role, raising questions about the impact of policies. ## Voters' Economic Concerns Polls show declining voter confidence in Trump's economic management. Net ratings for inflation and prices stand at -43, reflecting dissatisfaction with rising living costs. Trump's rhetoric has failed to alleviate these worries. ## Middle East Tensions Houthi attacks on Saudi oil tankers threaten energy supply. Five ships rerouted to avoid the Bab el-Mandeb strait. While Trump dismissed the clashes as 'skirmishes,' their market impact is significant. ## Economic Realities vs. Political Rhetoric The gap between Trump's economic claims and reality is widening. While stock markets hit records, consumer confidence remains at historic lows. This shows economic recovery hasn't reached the masses, keeping voters' struggles at the heart of political debates. ## Sources covering this story - https://fortune.com/2026/07/23/trump-dismisses-affordability-democrats-made-up-word-oil-prices-100-barrel/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._