The Dow Jones (DJIA) is set to open the trading week on higher ground as the U.S. ramps up efforts to resume the flow of oil through the Strait of Hormuz.
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Trade QQQ with leverageOver the weekend, President Trump called on several countries to join what the White House is calling the ‘Hormuz Coalition,’ a group that will escort tankers through the passageway. “Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships to the area so that the Hormuz Strait will no longer be a threat by a Nation that has been totally decapitated,” he said in a Truth Social post.
Trump Pushes NATO Allies to Assist with Hormuz Coalition
The Trump administration could provide more details on participating countries as soon as this week, according to the Wall Street Journal. However, discussions are still underway to determine whether the escorts will begin before or after fighting winds down in the Middle East.
No country has publicly announced its intention to join the coalition yet, although Trump warned NATO allies they would face a “very bad” future if they refuse to join.