Donald Trump claims Strait of Hormuz importance is declining

US President Donald Trump stated that the strategic importance of the Strait of Hormuz may decrease due to the rapid construction of record numbers of oil pipelines in regions such as Texas, Alaska, and Louisiana. Speaking at the White House, Trump noted that consumers and producers are turning to alternative energy sources, which could impact global energy supply chains.

Regarding Iran, Trump emphasized that the US possesses “extremely heavy sanctions” and described the current maritime blockade as “100 percent successful.” He indicated that while the Strait remains open for many vessels, the US maintains significant control over navigation.

In the financial markets, the US Treasury announced plans to increase its buyback operations for long-term Treasury bonds from $2 billion to at least $4 billion to support market liquidity. This move, alongside shifts in US Treasury yields, has caused volatility in gold and silver prices. Gold prices have seen significant movement, with experts monitoring the $4,000–$4,500 range for potential trend strength.

On North Korean relations, Trump expressed a positive rapport with Kim Jong-un, criticizing large-scale military exercises with South Korea as “humiliating” given the existing relationship.