Blasts reported on Iran's key oil island as crude tests highs
Reports of explosions on Iran's Kharg Island, a key oil export hub, as WTI crude tests July highs.
In a satirical post, President Trump proposed renaming the Strait of Hormuz to 'Trump Strait'.
A piece of satire was shared.
President Donald Trump posted on Truth Social.
"Now that we have it under U.S.A. control, should we change the name Hormuz Strait to TRUMP STRAIT??? Like America itself, it would be “hotter” than ever before! Thank you for your attention to this matter. President DONALD J. TRUMP"
The post questioned why the change should be so limited, suggesting the entire world be renamed "Trump" instead.
A question was also asked about whether the Strait is fully open again.
Crude oil traded at $90.80, up $0.60, or 0.65%. Crude oil traders appeared not to have taken the satirical proposal into account.
Share to
Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
Reports of explosions on Iran's Kharg Island, a key oil export hub, as WTI crude tests July highs.
Oil rose to $94.37 before falling to $92.30, with a false breakout above the June high. Geopolitical events failed to sustain gains.
Reports said flights at Jeddah airport were suspended as Saudi-Houthi clashes intensified and oil prices climbed to $94.73.
Brent crude topped $100 a barrel for the first time in three months after Houthi attacks on Saudi oil sites.