Crude oil futures fell on Thursday after President Donald Trump said he will ask Saudi Arabia and OPEC to reduce prices. Trump claimed the Saudis and OPEC were responsible for fueling the war in Ukraine through higher oil prices.

U.S. President Donald Trump on Thursday said he will demand Saudi Arabia and OPEC bring down the cost of oil and will ask Riyadh to increase a planned U.S. investment package to $1 trillion from an initial reported $600 billion.

During a speech to the World Economic Forum on Thursday, President Donald Trump pressured the Saudi Crown Prince to increase his planned $600 billion investment in the U.S. "to a round $1 trillion" and to lower the global price of oil.

Trump declared that he will strive to lower the price of oil to end the war in Ukraine. "I will ask Saudi Arabia and OPEC to lower the price of oil. It needs to be lowered! We need to end the war!" Trump said during the economic forum in Davos.

Trump also said he wanted to meet Russian President Vladimir Putin soon to secure an end to the almost three-year-old war with Ukraine

President Trump on Wednesday warned Vladimir Putin that he'll impose tariffs and more sanctions on Russia if it does not reach an agreement to end the war in Ukraine. CBS News senior foreign correspondent Holly Williams has more.

US President Donald Trump said Thursday that lower oil prices could end war in Ukraine immediately, addressing the World Economic Forum in Davos, Switzerland, remotely.

The Commander in Chief is using the threat of duties as leverage as he seeks to strike a "deal" to end the conflict.