Truth Social
“THE STRAIT OF HORMUZ IS COMPLETELY OPEN AND READY FOR BUSINESS AND FULL PASSAGE, BUT THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE. THIS PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF THE POINTS ARE ALREADY NEGOTIATED. THANK YOU FOR YOUR ATTENTION TO THIS MATTER! PRESIDENT DONALD J.TRUMP
“Now that the Hormuz Strait situation is over, I received a call from NATO asking if we would need some help. I TOLD THEM TO STAY AWAY, UNLESS THEY JUST WANT TO LOAD UP THEIR SHIPS WITH OIL. They were useless when needed, a Paper Tiger! President DJT”
The price of oil dropped immediately after President Trump made this announcement. WTI Crude is trading around $80-$85 per barrel, while Brent Crude has dipped towards $90-$98 per barrel after previous highs.
It will take many weeks for this price relief to filter through to the domestic fuel market. Meanwhile the Queensland government has announced plans to build a new oil refinery most likely at Gladstone.
“We won’t be held to ransom again. We will build our own refinery to provide diesel for industry,” Premier David Crisafulli said.
The government has begun negotiations with fuel companies to get the project underway.