What happened Donald Trump has said the US could deploy naval vessels to accompany commercial ships through the Strait of Hormuz now that hostilities with Iran have brought maritime traffic in the corridor to a virtual standstill. The narrow waterway, linking the Persian Gulf and the Gulf of Oman, sees roughly 20 million barrels of oil a day pass through it and is central to global energy supply chains.
Who said what Trump said that “if necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible”. He added in a post on Truth Social that Washington would ensure “the FREE FLOW of ENERGY to the World”.
Faced with the “overwhelming firepower of the United States and Israel”, Iran is trying to “damage oil and gas infrastructure in neighbouring countries, shut the Strait of Hormuz to shipping and curtail air traffic”, said Steven Erlanger in The New York Times. Its plan is to “disrupt the economies of the Persian Gulf and drive up global energy prices and inflation” so as to “expand the war, increase the cost, and outlast Trump”.
If Iran successfully “shuts the world’s most important oil chokepoint, global economic chaos could follow”, said supply chain expert Sarah Schiffling on The Conversation.
What next? Stock markets have fallen sharply in recent days as oil prices climbed. The US embassy in Saudi Arabia has warned of potential drone and rocket attacks in Dhahran, home to state oil giant Saudi Aramco, heightening concerns about further disruptions. |