In response to rising crude oil prices and weak global markets, former President Donald Trump indicated on Wednesday that the United States may extend its waiver on sanctions against Russian oil. The current waiver, which allows countries to buy petroleum products from Russia, has been extended until May 16. Trump stated, 'We are going to do whatever is necessary' to stabilize the situation, predicting that oil prices will drop and the stock market will improve. He mentioned that several oil tankers are poised to move through the Strait of Hormuz, which could lead to an influx of oil and a decrease in inflation. Additionally, Trump discussed ongoing negotiations regarding a peace deal with Iran, asserting that the U.S. is committed to preventing Iran from acquiring nuclear weapons and that the deal would be beneficial for both the American and Iranian people.