Oil markets remain on edge as the U.S. President alternates between strategic banter and military threats against Tehran, following renewed hostilities in the Middle East.
Twelve hours ago, Donald Trump sowed confusion by joking about renaming the Strait of Hormuz, one of the world’s most strategic maritime chokepoints. When pressed by an AFP journalist on the possibility of renaming the strait the “Trump Strait,” the U.S. President first floated the idea on his Truth Social platform before walking back his comments a few hours later, admitting he had “just thrown it out there.”
The quip, though quickly downplayed, comes amid heightened geopolitical tensions. As hostilities have resumed in the Middle East, Donald Trump has declared himself ready to strike Iran again “at any moment,” offering no immediate prospect of de-escalation.
Oil Prices End Mixed
Against this backdrop of uncertainty, oil prices closed slightly higher, supported by fears of a regional escalation. Brent crude from the North Sea, for November delivery, fell 1.04% to settle at $95.63 per barrel**. Its U.S. equivalent, West Texas Intermediate (WTI) for the same month, gained 0.63% to **$91.01 per barrel.
These mixed movements reflect investors’ hesitancy, caught between persistent threats to global supply and signs of an economic slowdown. Markets remain fixated on the next moves from the Trump administration, whose statements continue to oscillate between verbal provocation and military resolve.
