Eleven days into the West Asia conflict, US President Donald Trump said his administration is focused on keeping global oil supplies flowing despite tensions with Iran.
Trump announced that the United States is ready to escort oil tankers through the crucial Strait of Hormuz to ensure the shipping route remains open. The strait is one of the world’s most important oil transit points.
The US has also waived certain oil sanctions to stabilise global energy markets. Trump warned that Iran would face a stronger response if it attempts to block oil shipments. He also said he believes the conflict could end soon.
Meanwhile, three oil tankers have already passed through the Strait of Hormuz, easing fears of a supply disruption. Global oil benchmark Brent Crude has fallen sharply, dropping nearly 26% from its weekly high and slipping below $90 per barrel.
#DonaldTrump #StraitOfHormuz #OilPrices #IranConflict #MiddleEastWar #BrentCrude #GlobalOil #EnergyCrisis #BreakingNews #IndiaFuelPrices
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