US President Donald Trump took to his Truth Social platform to boast about the state of the economy amid a looming peace deal with Iran, claiming 'OIL IS FLOWING,' 'THE STOCK MARKETS ARE ROARING, JOBS ARE AT RECORDS, AND PRICES ARE DROPPING.' However, an Al Jazeera analysis reveals that while some claims are accurate, others are misleading.

The Dow Jones Industrial Average did hit a record close of 51,999.67 on Tuesday, but slipped after the Federal Reserve maintained its benchmark interest rate at 3.5-3.75%. The Nasdaq and S&P 500 both declined. Experts note that stock market gains do not affect the 38% of Americans who do not invest in stocks.

Gas prices have fallen, but the average gallon costs $3.99, still well above the pre-war $2.98. Analysts warn that price declines may plateau as the strategic petroleum reserve is refilled and supply chain bottlenecks persist. Rice University professor Mark Jones predicts prices won't return to pre-war levels until late 2027.

Consumer inflation stands at 4.2%, the highest in three years, with food prices rising, especially for bakery products, cereals, nonalcoholic beverages, fruits, and vegetables. Kroger, the largest US supermarket chain, announced price cuts on thousands of items due to reduced consumer purchasing power.

Trump's job claims are inaccurate. The US added 172,000 jobs in May, with the highest monthly gain under Trump being 214,000 in March. Under Biden, monthly gains averaged 300,000. In 2025, monthly job creation averaged only 15,000, and 92,000 jobs were lost in February. Layoffs jumped 16% in May to 97,000, driven partly by AI.

Regarding oil flows: Vice President JD Vance claimed 12.5 million barrels passed through the Strait of Hormuz overnight, but Kpler data shows only six verified crossings on June 17. Oil prices fell to $76.51 per barrel. LNG shipments have also increased.

Source: www.aljazeera.com