Trump Signals U.S. May Halt Iran Military Action Despite Hormuz Disruption
Trump said the Iran war was nearing an end but indicated military action could still escalate, while gold and silver fell sharply and oil climbed as the Strait of Hormuz remained largely blocked.
Trump said the Iran war was nearing an end, but also suggested military action could escalate in the near term, adding a new element of uncertainty to market expectations around U.S. involvement and regional security. In the latest market reaction, spot gold fell by more than $100, silver dropped more than 3%, and both WTI and Brent crude rose more than 5%. The Strait of Hormuz, which carries about one-fifth of global seaborne oil, remained largely blocked, reinforcing concerns over energy supply disruption even as Trump signaled possible de-escalation.
- Strait of Hormuz: A vital maritime chokepoint for oil shipments from the Persian Gulf, carrying roughly one-fifth of global seaborne oil.
- WTI: West Texas Intermediate, a major U.S. crude oil benchmark used to track domestic oil prices.
- Brent crude: A leading international oil benchmark used to price much of the world’s seaborne crude exports.