Why Iran speech of Trump shook oil markets worldwide?
Apr 2, 2026
US President Donald Trump delivered a highly anticipated speech on the Iran war but stopped short of announcing escalation or de-e
Apr 2, 2026
US President Donald Trump delivered a highly anticipated speech on the Iran war but stopped short of announcing escalation or de-escalation.
Instead, markets reacted sharply, with oil prices rising and stocks falling in the hours that followed.
Trump downplayed US reliance on the Strait of Hormuz, despite ongoing disruptions.
The waterway’s partial closure by Iran has triggered one of the biggest energy shocks in decades.
While US imports through the strait are limited, global supply disruptions are pushing up fuel prices domestically.
Around 20 percent of the world’s oil supply typically passes through the strait, with thousands of ships now stranded.
Efforts are underway by multiple countries to reopen the route amid growing economic concerns.
Al Jazeera’s Um-e-Kulsoom Shariff explains.
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