President Donald Trump said Thursday that one of his guiding principles during the Iran conflict was avoiding the kind of economic collapse he associates with former President Herbert Hoover, arguing that keeping the Strait of Hormuz open prevented oil prices from soaring to levels that could have triggered a global depression.

"I've always said, I don't want to be a president with a depression on his resume," Trump said during a wide-ranging Oval Office interview on CNBC.

"I don't want to be Herbert Hoover. Of almost all presidents, some have been bad, some have been good, very few have been great.

"But I never want to be Herbert Hoover because Herbert Hoover was the president that probably took us into the Great Depression, the greatest depression, led the whole world there.

"He raised interest rates and he raised taxes simultaneously. I guess he was trying to do something, but that didn't work out too well," Trump said.

Trump pivoted to Iran, saying that if he had allowed the Strait of Hormuz to remain closed, oil could have reached $300 to $350 a barrel, producing a global depression.

Trump said U.S. naval forces escorted tankers through the southern part of the strait at night without lights for weeks, which he credited with helping keep oil prices from spiking above $115 a barrel.

"One of the reasons it only went up to like $115, if you remember, and I've seen guests on your show where they go oil will be $350 a barrel, and there'll be a depression because at $350, there's a depression. It's automatic. It goes with it," Trump said.

"I said, well, we've got to do something. We did something nobody knew," he said.

"Every night, we were taking ships out through the south, which is the furthest point from where they have their little weapons.

"And they were going along the coast with no lights for a month and a half. A lot of ships came out.

"We had one night where we took 22 ships out. That's a lot of oil. Those are big ships. Some of them are really big ships.

"And in a way, they had courage going out. But our Navy took them out. We escorted them out, and nobody knew. The lights were off. Everything was off. Everything was silent," Trump explained.

Trump said if oil reached $300 a barrel, "then I become Herbert Hoover. I don't want to be Herbert Hoover."

"FDR didn't get us out of it. There's a picture right there, FDR," Trump said, pointing to a portrait of Franklin Delano Roosevelt.

"Nice picture. It took us years to get out of it. I don't ever want to be in a depression. I don't want to be a president that oversees the great worldwide depression. That was Herbert Hoover. And it was a terrible thing," Trump said.