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Wright Credits Trump's Leadership for Oil Price Drop After Iran Ceasefire News on Ingraham

June 24, 2025 · U.S. Department of Energy · 0:04:45

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What happened

Energy Secretary Chris Wright told Fox News’s Laura Ingraham that oil had dropped below $70 a barrel on the evening a ceasefire in the Middle East conflict was set to take effect, according to the Department of Energy’s upload of the June 23, 2025 appearance. Wright noted that a little over a week earlier major hostilities had broken out around the lifeblood of global oil flows, forecasters had predicted oil above $100, and U.S. precision strikes on Iran’s key nuclear facilities over the weekend had been expected to add another $20 to prices.

Instead, Wright said, wholesale gasoline was down over 10 cents that day and diesel down 15 percent, which he called the collective benefit of President Trump’s energy dominance agenda and his peace-through-strength leadership. He compared the President’s approach to Ronald Reagan’s toward the Soviet Union — clear and bold rather than appeasement — and said the prior playbook of not enforcing sanctions and giving Iran money had not worked.

Ingraham reported that Reuters said the President had brokered the agreement in a phone call with Prime Minister Netanyahu that afternoon, with the Vice President, Secretary of State and the special envoy holding direct and indirect talks with the Iranians in preceding days.

Why it matters

The appearance is the Energy Secretary’s same-day victory framing of the ceasefire — markets, in his telling, ratifying the strikes-plus-diplomacy sequence — delivered before the agreement’s durability could be tested.

Scoreboard watch

Scoreboard watch: Secretary Wright’s statements that oil fell below $70 a barrel and wholesale gasoline dropped over 10 cents and diesel 15 cents on June 23, 2025, following the ceasefire announcement. Flagged for the scoreboard editor; no verdict is published from this page.

Sources: U.S. Department of Energy, “Secretary Wright Joins Fox News’ Laura Ingraham - June 23, 2025”, 2025-06-24 (official upload, embedded above; published 2025-06-24). Transcript via Supadata (private research store, paraphrased and attributed, not republished). All figures and characterizations as stated by the speakers.