Summary
- US President Donald Trump said, “We don’t need the Strait of Hormuz,” adding that it has absolutely no impact on the United States.
- The remarks came as Iran continues to threaten a Hormuz blockade, and were interpreted as an attempt to underscore US energy self-sufficiency.
- Markets note that the Strait of Hormuz is a key conduit for global crude oil supply, and that an actual blockade would inevitably deliver a major shock to international energy markets.
Forecast Trend Report by Period
US President Donald Trump has played down the importance of the Strait of Hormuz.
According to Walter Bloomberg on the 26th (local time), Trump said, “We don’t need the Strait of Hormuz,” adding, “It has absolutely no impact on the United States.”
The remarks came as Iran continues to threaten to block the Strait of Hormuz, and are interpreted as an attempt to underscore US energy self-sufficiency.
However, markets note that the Strait of Hormuz is a key conduit for global crude oil supply, meaning any actual blockade would still inevitably deliver a major shock to international energy markets.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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