Strait Of Hormuz Crisis Disrupts Global Energy Flows
“It won’t be easy … we will have that open fairly soon,” Trump told reporters, without outlining specific steps, according to a Reuters report.
He added that other nations reliant on the route may assist. “Other countries use the strait … and they’ll help out.”
The blockade, imposed by Tehran following the outbreak of war, has halted ship traffic through one of the world’s most vital energy corridors, which carries roughly 20% of global oil and liquefied natural gas supplies.
War Escalation And Fragile Ceasefire
Tensions surged after U.S. and Israeli strikes on Iran on Feb. 28 triggered retaliatory attacks on U.S. bases and Israeli targets.
Although Trump announced a ceasefire earlier this week, commercial shipping through the strait remains stalled, prolonging supply disruptions and keeping oil prices elevated.
US-Iran Talks In Islamabad In Doubt As Oil Holds Near $95
The U.S. and Iran are scheduled to hold talks in Islamabad on Saturday aimed at ending their six-week conflict.
However, Tehran cast uncertainty over the meeting, saying negotiations could not proceed without assurances on Lebanon and sanctions relief.
The U.S. delegation — led by Vice President JD Vance and including Trump’s special envoy Steve Witkoff and son-in-law Jared Kushner — was en route to Islamabad following a refueling stop in Paris.
In commodities, WTI crude fell 2.29% to $95.63 per barrel as of 6:18:50 p.m. EDT, while RBOB gasoline futures rose 0.63% to $3.0197 per gallon and ULSD heating oil futures dropped 4.95% to $3.7421 per gallon at 6:18:51 p.m. EDT.
Natural gas futures declined 0.64% to $2.653 per MMBtu as of 6:18:51 p.m. EDT.
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