Pres. Trump is ranting to start the week. On Truth Social he posts:Iran is officially a Failed Nation. IT IS DEAD! They have no Navy, they have no Air Force, they have no currency, they are not paying their soldiers or police, Inflation is at 300%, and their leadership is in total disarray and incapable of properly representing the country. The only thing they have is FAKE NEWS from the USA, a willingness to kill their protesters (now over 100,000 people dead. They must be tried for war crimes against humanity!), and a good line of “BULLSHIT.” Thank you for your attention to this matter! President DONALD J.TRUMPTrump first made that specific claim (no Navy. no Air Force) on March 3, 2026, during an Oval Office meeting with German Chancellor Friedrich Merz.He said:“They have no Navy; it’s been knocked out. They have no Air Force; it’s been knocked out.”The war started on February 28.On August 24, the Trump administration launched Operation Economic Outcast as a new phase emphasizing economic isolation, but it did not declare an end to military operations or rule out additional strikes.Pres. Trump may be frustrated as oil prices are up sharply in trading today despite the U.S. and Venezuela announced what President Trump called a “historic” oil agreement, giving the United States majority participation in the development of a large group of Venezuelan oil fields.Key details:The agreement covers 17 oil fields containing an estimated 65 billion barrels of proven reserves.The fields have reportedly been leased to a new private venture for 100 years.The United States will receive a 55% effective share, divided between equity ownership and production rights.The U.S. will also have the right to purchase oil at cost, with some of that crude earmarked to replenish the Strategic Petroleum Reserve and supply the U.S. military.Venezuela says the project could attract more than $100 billion in private investment and generate more than $209 billion in tax revenue.Trump says the agreement will eventually lower gasoline prices and strengthen U.S. energy security.The important market caveat is timing. Venezuela currently produces around 1.25 million barrels per day. However, bringing significant additional production online will require billions of dollars and likely take several years. Consequently, the deal represents a potentially bearish influence on oil prices over the longer term, but it provides little immediate relief from supply disruptions associated with the Iran conflict.There are also substantial unanswered questions. The complete agreement has not been published, the private Venezuelan partner has not been identified, and it remains unclear who will finance the development. Legal experts have also raised questions because Venezuela’s constitution reserves core petroleum activities for the state.Ultimately, it may wear Iran down, but the story has been told over and over and the clock is ticking to the November mid-term elections for the Pres. and the GOP. This article was written by Greg Michalowski at investinglive.com.