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Market Chatter: Trump Says US Keeps Hormuz Open, Oil Traffic Flows After Mines Cleared

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US President Donald Trump said Wednesday, during a phone interview on the Glenn Beck podcast, that the US has cleared mines and kept oil traffic flowing through the Strait of Hormuz.

Trump said the US has kept the strait open, adding that 22 boats exited the Strait of Hormuz on Tuesday. He said American forces removed all the mines from the waterway and continued moving ships through the strait, calling it "functioning."

He added that oil "is pouring out" of the strait, with 10 million barrels exiting on Tuesday night. Trump said the strait could still see occasional drone or rocket attacks but reiterated that it is a "very functioning strait."

Trump said US forces had severely weakened Iran's military. He also pointed to Iran's economic problems, saying it was dealing with 300% inflation, and described the country's currency as "almost valueless now," arguing that the pressure has weakened Tehran.

On energy prices, Trump said oil prices initially rose after the US action against Iran but have since fallen rapidly, saying "the prices are coming down very rapidly."

The White House did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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