Trump’s Iran war: Hormuz, oil and the risk of a wider global crisis

The United States, for its part, has for some time pursued a policy centered on asserting that the strait is open to navigation and that the US Navy is the force exercising control over it. US President Donald Trump insists on regarding it as a “new U.S. territory.” To substantiate this narrative, US Treasury Secretary Scott Bessent announced that 130 million barrels of oil had passed through the strait over the past two weeks.