Oil ‘powder keg’: Trump says Hormuz blockade may last all summer
US President Donald Trump expressed cautious optimism about resolving the ongoing blockade of Iran, although he acknowledged it could persist for several months. Despite efforts to manage oil prices, experts warn that a prolonged closure of the Strait of Hormuz could lead to significant increases in oil prices. The situation remains tense as Iran continues to launch attacks against US military bases in the region.
- ▪Trump indicated that the blockade of Iran could last until Labor Day but believes it may resolve quickly.
- ▪Iran has launched attacks against US military bases in response to US actions, escalating tensions in the region.
- ▪Oil industry experts warn that if the Strait of Hormuz remains closed, US oil supplies could reach their lowest levels in over two decades.
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US President Donald Trump on Wednesday tried to project optimism about reaching a deal to end the illegal war he started against Iran, even while acknowledging the crisis could last for several more months. In an interview with The New York Post, Trump was asked whether the current blockade of Iran would last until Labor Day, which falls on September 7 this year. “I don’t know,” Trump said. “I mean, I think it could be, but I think it’s unlikely.” He added, “I think this will resolve itself fairly quickly.” The president for the last several months has managed to keep oil prices from spiking to disastrous levels by dropping hints that his illegal war will soon be over, even though it has continued with no end in sight.
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