Trump Says US Could Control Hormuz Strait, 20% Oil Supply

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Published: 1 hour ago

President Trump stated the US could reopen the Strait of Hormuz and control oil flows after Iranian threats and attacks disrupted tanker traffic. The strait handles 20% of global oil supply, with flows stalled and crude prices rising sharply. Oil price volatility typically strengthens USD against commodity currencies like CAD, AUD, and NOK. Higher energy costs could also impact EUR and GBP through inflation concerns and economic growth implications.

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