Washington: US President Donald Trump has warned of potential disruptions to global oil flows due to maritime congestion and military activity near the Strait of Hormuz.
At a Forum Club event in Palm Beach, Trump highlighted intense vessel traffic in the vital Gulf shipping corridor. "You see all of those ships… they’re all over the place… hundreds and hundreds of ships," he said, noting that US naval operations had imposed tight control. "We have a navy that is unbelievable… it’s a blockade."
Oil tankers were reportedly stranded, unable to exit the strait, with some shipments rerouted. "These ships are loaded up with oil they can’t get out of the strait," Trump stated. "You see all of those big gorgeous ships… they’re coming to Texas now… to load up."
Despite the bottlenecks, he insisted supplies were plentiful and prices would plummet once traffic normalised. "There’s so much oil," he predicted, adding that prices would "drop like a rock".
Trump tied the operations to economic gains, claiming: "This is the first war… where we actually have paid for the cost of the war by about 37 times already." He stressed US efforts to curb Iran's energy exports, leaving its economy "crumbling", while domestic production hit record highs. "We’re producing more oil and gas now than we ever have."
Uncertainty persists, however. "With war, you never know what happens," he cautioned, hinting that a deal might not be ideal. "Maybe we’re better off not making a deal at all."
The Strait of Hormuz handles a major portion of global oil shipments, and any prolonged issues could spike prices worldwide. For India, heavily reliant on Gulf crude imports, this threatens higher freight costs, delayed deliveries, and upward pressure on fuel prices and inflation—developments under close watch in New Delhi.
(Inputs from IANS)