President Trump believes that the Strait of Hormuz can be easily reopened and provide the U.S. with more oil opportunities. The passageway handles roughly 20% of global oil flows and has been operating at a near standstill for several weeks.
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Trade QQQ with leverage“With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL, & MAKE A FORTUNE,” Trump said in a Truth Social post on Friday. “IT WOULD BE A “GUSHER” FOR THE WORLD???”
Trump Pressures Allies as First Western Ship Passes Hormuz
Earlier this week, Trump shifted the responsibility of reopening Hormuz to U.S. allies, urging them to “just take it.” He had previously criticized NATO for its lack of involvement in the effort and said the U.S. was considering pulling out of the global alliance.
In a sign of progress, a French-owned ship, sailing under a Maltese flag, safely transited through the passageway on Thursday, marking the first successful transit by a ship with Western ties since Iran began restricting passage.