The Dow Jones (DJIA) is set to open Tuesday in positive territory after President Trump told administration officials he would consider ending the U.S. military campaign against Iran even if the Strait of Hormuz remains mostly closed, according to the Wall Street Journal.
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New trading tool for QQQ bullsTrump’s main goal is to weaken Iran’s military presence. Reopening the strait could take longer than the initial operation timeline of four to six weeks, and the responsibility could be shifted to allies of the U.S. in Europe and the Gulf, officials familiar with the matter said.
Trump Urges U.S. Allies to Seize Hormuz
Traffic through the passage has slumped since the start of the war on February 28 and remains at a near standstill. This morning, Trump urged allies to take back the strait themselves.
“…build up some delayed courage, go to the Strait, and just TAKE IT,” Trump said in a Truth Social post. “You’ll have to start learning how to fight for yourself, the U.S.A. won’t be there to help you anymore, just like you weren’t there for us.”
The closure has boosted oil prices, with Brent crude oil futures (BZ) up by 41% over the past month.