Forex
Home›Forex›Central Banks›Trump says Strait of Hormuz open to all shipping excep…
Trump says Strait of Hormuz open to all shipping except Iran
He also said oil shipments are moving strongly due to US military presence, after earlier plans for a 20% fee were replaced with Gulf trade and investment deals.
US President Donald Trump reiterated via a Truth Social post that the Strait of Hormuz is open to all ship traffic except for Iran, and said the US would impose a “full blockade” only on vessels traveling to or from Iranian ports or carrying Iranian cargo.
Trump claimed oil shipments through the strategic waterway were flowing strongly because of the US military presence, and said oil was moving “like never before.” He also backed away from an earlier plan to charge a 20% reimbursement fee on cargo passing through the strait, saying it will be replaced by trade and investment deals the Gulf states will make with the United States.
After Trump’s remarks, oil prices briefly moved lower before recovering. West Texas Intermediate traded around $79.0, up nearly 1.5% on the day, after an intraday high of $80.61.
The article also tied the move to “risk-on” and “risk-off” dynamics, noting that during risk-on periods investors often favor commodities and higher beta assets, while risk-off periods tend to lift safe havens and bonds.