Goa, May 13 -- US President Donald Trump on Tuesday indicated that his administration is prepared to take all necessary measures to ease rising crude oil prices, while expressing confidence that inflation would decline sharply once the ongoing conflict with Iran comes to an end.

Trump said the United States would do "whatever is necessary" to stabilise energy markets.

"We're going to do whatever is necessary, and as soon as this war is over, which will not be long, you're going to see oil prices drop and see a stock market, which is already at the highest point in history, go through the roof," Trump said.

The United States had relaxed sanctions on Russian oil in mid-March to offset global supply shortages triggered by the closure of t...