Trump Vows US Control Over Strait of Hormuz Amid Rising US-Iran Tensions
US President Donald Trump declared in a Fox News interview that the United States will take control of the Strait of Hormuz, calling it "our strait" and promising to be its defenders. He described the Iranian regime as "a bunch of bad people" and emphasized that the US will not allow Tehran to dictate activities in this critical maritime route, through which about one-fifth of the world’s oil supply passes.
Trump’s remarks followed a day of conflicting messages from Washington and Tehran regarding the status of the Strait of Hormuz. Iran claimed it had closed the strait and controlled all maritime traffic, while the US Central Command (CENTCOM) issued an unusual statement affirming that the strait remains open for lawful international navigation. CENTCOM stressed that US forces are prepared to ensure freedom of navigation despite what it described as Iranian threats and harassment.
Tensions have escalated recently after Iranian attacks on vessels and US military responses, leading to reduced tanker traffic through the strait, rising oil prices, and growing fears of disruptions to global energy supplies. While Iran seeks to leverage the strait as a strategic pressure point on global trade, the US aims to maintain it as an open international waterway, with the US Navy continuing to safeguard maritime security.
Previously, the US had initiated a pilot program to escort ships through the strait, but Saudi opposition led to its suspension. Reports now indicate the program may be revived, which would limit Tehran’s ability to hold the global economy hostage.
Market reactions show mixed sentiment: Brent crude prices have risen close to $79 per barrel. Lloyd’s List maritime intelligence warns of sharply rising insurance premiums for passage through Hormuz amid renewed US-Iran conflict and notes that shipowners are delaying transit decisions. The number of ships passing daily has dropped from 100-120 pre-conflict to 20-40 recently. Analysts at Polymarket express skepticism about Trump’s claims, assigning low probabilities to a return to near-normal traffic levels by mid-2024 or even by the end of 2026.
The situation remains volatile, with ongoing military friction and economic uncertainty surrounding this vital shipping corridor.
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