Trump Says Hormuz Oil Flows Near Pre-War Levels, Predicts War Will End Soon

President Donald Trump said Wednesday that oil shipments through the Strait of Hormuz are returning to levels seen before the war with Iran, telling a rally audience in Bullhead City, Arizona, that the United States is getting what he described as tremendous amounts of crude out of the waterway. According to Breaking The News, Trump said volumes comparable to those recorded before the conflict were once again moving through the strait.

The president also repeated his expectation that the war will end very soon, which he said would push energy prices down. He added that prices should already be much lower given the volume of oil he said is flowing out of the strait.

Markets gave a muted response to the remarks. Brent crude traded at $106.10, down 0.18%, while West Texas Intermediate edged up 0.19% to $93.94 — a split that suggests traders have not yet priced in a decisive shift in supply. Gold was flat at $4,105.33 and the dollar traded at 158.32 yen, down slightly.

Equities were weaker on the US side of the ledger while European indexes advanced. The S&P 500 was down 1.07% and the Nasdaq fell 1.95%, with the Dow off 0.1%, according to the market snapshot. Germany's DAX rose 0.33% and the UK's FTSE 100 gained 0.86%.

Trump's comments came during the same Arizona rally where he again argued that Canada will ultimately become the 51st US state. In related remarks covered by Breaking The News from the same event, he said Canada had treated the US unfairly on tariffs and that it needs Washington more than Washington needs it.

No timeline was given for when the war might conclude or when the higher Hormuz volumes would be reflected in pump prices, which is what Trump linked directly to the supply situation. The remarks follow other recent rally claims, including his assertion that he met with China's Xi Jinping and that South Korea and Taiwan have committed tens of billions of dollars to the Alaska LNG project.