Trump says Strait of Hormuz could reopen soon, oil prices may plunge if Iran deal reached

WASHINGTON: US President Donald Trump on Monday offered a mix of diplomatic overtures and hard‑edged rhetoric on the conflict with Iran, saying a deal with Tehran could soon lead to the reopening of the strategic Strait of Hormuz and a sharp drop in oil prices.

Trump, speaking to the reporters, said that if a comprehensive agreement were reached with Iran, the critical shipping route — through which about one‑fifth of the world’s oil normally flows — “will be opened very soon,” and that global oil prices would “drop like a rock” as market uncertainty eased.

In remarks that highlighted the fluid nature of US strategy nearly four weeks into the Iran war, Trump also suggested unconventional ideas for post‑conflict governance.

He said it was possible Washington might “find a leader like we did in Venezuela” or even pursue “maybe joint leadership,” without elaborating on specifics.

Trump reiterated that the Iran campaign could involve a “very serious form of regime change,” signaling continued pressure on Tehran’s political leadership.

Analysts have noted that despite US and allied strikes, Iran’s regime remains intact and resilient, complicating US objectives.

The conflict has strained energy markets and the global economy.

 With Iran’s closure of the Strait of Hormuz partially cutting off shipments, Brent crude oil prices have surged, and market volatility has persisted amid concerns that supply disruptions could ripple across global trade.

Trump’s mixed messaging — combining threats, diplomatic overtures, and market‑focused commentary — comes as world leaders and investors watch for signs of either de‑escalation or further confrontation in the region.