President Trump floated the idea of placing the Strait of Hormuz under joint control on Monday. The strait handles roughly 20% of global oil flows and has operated at a near standstill since the start of the U.S.-Iran war on February 28, sending energy prices soaring.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade QQQ“Maybe me. Me and the Ayatollah, whoever the Ayatollah is,” Trump said in response to a question about ownership of the passage. “There’ll also be a form of a very serious form of a regime change.”
Trump Calls Off Iran Energy Strikes as Strait Remains Closed
Over the weekend, Trump urged Iran to reopen the strait by Monday evening, warning that the U.S. would obliterate the country’s power plants if his demand wasn’t met. However, he called off the attack following “very good and productive conversations” between the two sides.
Ships have avoided the strait for fear of being targeted by mines and drones. Iran has placed at least a dozen underwater mines through the strait, according to U.S. intelligence estimates.